Brixmor Picks Up Two Texas Shopping Centers
In this year’s second quarter, Brixmor Property Group Inc. acquired two Texas retail centers. The company paid $46.5 million for Jones Crossing in College Station, Texas, home to Texas A&M University. The center is anchored by an H-E-B market and has 15 acres of undeveloped land at its center. Stratus Properties sold the College Station property to Brixmor.
The company also acquired Vintage Marketplace, an approximately 72,000-square-foot grocery-anchored neighborhood center in the northwest suburbs of Houston, Texas, for $32.7 million. Anchored by Whole Foods Market, the property complements 26 other Brixmor assets in the Houston market. The company cited near-term leasing of vacancies and below-market in-place rents as opportunities for value creation.
In the first six months of the year, Brixmor reported the disposition of six shopping centers. The company generated gross proceeds of $123 million on the sales.
Brixmor owns 344 open-air shopping centers totaling 62 million square feet nationwide.
