June 29, 2018
Disney Investment Group (DIG) brokered the sale of three Texas shopping centers totaling 359,309 square feet. New Jersey-based Lamar Cos. acquired Vista Ridge Plaza and Shops at Vista Ridge in Lewisville, TX from Kimco Realty Corp. Meanwhile, InvenTrust Properties sold Tomball Town Center in Tomball, TX to an unnamed buyer.
All three sales totaled $48 million. David Disney and Adam Crockett of DIG represented both sellers, and procured the private buyers for each asset.
Vista Ridge Plaza and Shops at Vista Ridge are at Farm-to-Market Road 3040 and MacArthur Boulevard. The portfolio totals 292,052 square feet, and is 80% occupied. Tenants include Bed Bath and Beyond, DSW, Pier 1 Imports, and Half Price Books, with upside through the recent departure of Babies R Us and a dark fitness center operator.
The 67,244-square-foot Tomball Town Center is shadow-anchored by a Kroger Signature store, and is 91% occupied. The retail property is at 14060 Farm-to-Market Road 2920.
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