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Weingarten Shores Up Memphis Portfolio

HOUSTON-Weingarten Realty Investors is on the move in Memphis, adding four shopping centers totaling 616,000 sf to its six holdings in that region. Thus far this year, Weingarten has invested $383 million in 24 retail acquisitions in three states.

By Jennifer Brenner Andrade | Updated on May 17, 2001

HOUSTON-Weingarten Realty Investors has zeroed in on Memphis, buying four shopping centers totaling 616,000 sf. With this deal, Weingarten has acquired 24 shopping centers since the beginning of the year, representing a $383 million investment and adding about 3.6 million sf.

Bartlett Towne Center, The Commons at Dexter, Summer Center and Southhaven Commons are the newest buys to come down the pike for the Houston-based REIT. Value Enhancement Fund II LLC, an investment fund managed by Lend Lease Real Estate Investments Inc., is the seller.

Shopping centers make up the largest portion of its portfolio, which currently includes 221 neighborhood and community shopping centers. Earlier this year, Weingarten took title to 19 shopping centers in California and more recently a center in Orlando.

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