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09/25/2012

Southlake real estate firm buys eight shopping centers in Texas

Southlake-based N3 Real Estate has paid Dallas-based St. Ives Realty $25 million for its Texas retail portfolio, the firm announced.

The portfolio includes eight properties totaling 172,329 square feet and are all centers located next to Walmart Supercenters in Alamo, Dumas, Hereford, Weatherford, Red Oak and Sweetwater. Shopping center tenants include Verizon, GameStop, Dollar Tree, Rent-a-Center, and Beall’s, among others.

N3 paid for the portfolio through its $250 million Retail Development Investment Fund.

N3 has bought and developed more than 200 single and multi-tenant retail projects for national and local retailers across the U. S. since it was founded in 2004.

_ Sandra Baker

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