In Plano, the brokers put together a package for more than $22.3 million for an unidentified buyer of the 350,000-sf Preston Park South. Randy Fliesher of Dallas and Keith Huizinga and John Clifford, both of Chicago, structured the deal with a floating rate. Aegon USA, a correspondent life company lender of L.J. Melody, provided the financing. Preston Park South is a two-building project with a four-level parking garage.Fleisher also pieced together financing with Salomon Smith Barney for the 406,342-sf Ridgmar Town Square, one of Tarrant County's largest shopping centers. Dallas-based Retail Plazas Inc. bought the center from Reliance Insurance, headquartered in New York City. Terms of the deal, which closed about two weeks ago, are being kept under wraps.

Retail Plazas is in the midst of repositioning the center, talking with several prospects to boost the 73.7%-occupied property. The tenant anchors are Mervyn's, Oshman's Sporting Goods, PetSmart, MJ Designs and Ross Dress for Less. While the deal was under contract, the intended buyer leased a vacant six-screen General Cinema theater to Premier Theaters of Granbury, TX. Retail Plazas' portfolio now consists of 12 shopping venues totaling about two million sf and 122 acres of developable commercial and residential property in the DFW region.