The largest of the purchases is Interwest Business Park, an office-service center located at 6804 Alamo Downs at Parkway. The 16-year-old business center is situated on 17 acres and contains 218,000 rentable sf. Interwest Business Park is currently 100% leased. Major tenants include All-American Sports, Janitrol and Mrs. Baird's Bakery.
The second San Antonio purchase is O'Connor Road Business Park, an industrial property located at 12700 O'Connor Rd. The park has 150,000 sf on 10.5 acres and is 92% leased. TD Industries is the major tenant.
Weingarten Realty also has acquired another Central Texas property in Killeen, adding the 115,000 sf Killeen Marketplace to its portfolio. The shopping center, located at the northeast corner of the US Hwy. 190 and Illinois Avenue intersection, is situated on 8.5 acres across from Killeen Mall and is 100% leased. Anchor tenants include Best Buy, Ross Dress for Less and Staples. Killeen is about 60 miles north of Austin.
Other year-end acquisitions include a purchase of Westland Fair, a Las Vegas shopping center that adds 465,000 sf to WRI's portfolio of eight other Las Vegas shopping centers. The company also has acquired the 136,000-sf Rainbow Plaza Phase I in Las Vegas. The REIT had acquired Phase II in 1997 and now owns the entire 416,000-sf shopping plaza.
The REIT acquired 15 properties last year, along with another 250,000 sf in new development. Together they add 2,185,000 sf to the portfolio, which now totals nearly 30 million sf and represents an investment of $229 million for 2000. Weingarten's properties include 197 shopping centers, 55 industrial properties, one apartment complex and one office building.
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