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Flickr User Matthew Rutledge
Weingarten purchased a property adjacent to its iconic River Oaks Shopping Center as part of a future redevelopment.
The acquisition—the Pier 1 Imports store at 1927 W Grey St—was one of two purchases the REIT closed in Q4 for a combined $33.5M. It also sold four properties for $33.5M in the same time period, the Houston Chronicle reports.
In December 2015, the company announced that it had some very preliminary plans to add mixed-use elements to the art deco shopping center, including a residential component. [Chron]
Weingarten Realty CEO Drew Alexander will be a panelist at Bisnow's 7th Annual Houston Capital Event on Feb. 18. To learn more about this event, click here.
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