Last year, InvenTrust Properties Corp announced it would spin off its non-core assets. This year, the company is snapping up retail centers all over the US, and Shops at the Galleria is the most recent acquisition for the retail-hungry firm.
InvenTrust acquired Shops at the Galleria, a 537k SF retail power center in Bee Cave, in an off-market sale. The shopping center was 99% occupied at the time of the sale.
Shops at the Galleria, which was built in 2005, occupies about 100 acres located 16 miles southwest of the Austin CBD.
CBRE's Chris Cozby and Chris Gerard repped Christopher Commercial, the seller. Dallas-based Disney Investment Group found the buyer, marking the fourth transaction between the two firms.
This is the second significant purchase for InvenTrust this week. The company snapped up the Renaissance Center retail complex in Durham, NC, for $129M on Monday.
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