In concert with the purchase, Stein Mart is filling an anchor vacancy created by the pullout of Service Merchandise. Other anchors are Foley's, Dillards and JC Penney.

Colonial Properties Trust added the Texas market to its eight-state portfolio two years ago. It now owns 115 multi-family, office and retail properties in its home state, Texas, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. Office space in the eight states total 3.1 million sf and retail space, 14.8 million sf.

"Temple is part of one of the fastest-growing MSAs in Texas, outpacing both the state and national averages in population and job growth projections," says Thomas H. Lowder, REIT chairman and CEO.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.