Weingarten Buys Seven NC Centers for Estimated $100M

ATLANTA-Houston-based Weingarten Realty Investors has closed on seven North Carolina supermarket-anchored shopping centers in the Raleigh-Durham area totaling 1.15 million sf. The REIT acquired an eighth 189,800-sf property in Plano, TX.

Weingarten president/CEO Drew Alexander didn’t disclose the individual or aggregate purchase prices in a prepared statement. But based on his total $141.7 million investment on 1.6 million sf of retail this year alone, according to the statement, the estimated acquisition price Weingarten paid Raleigh, NC-based Bob Hughes and Associates comes to about $88.56 per sf or an aggregate $101.84 million.

Tracy Pursell of Weingarten’s corporate staff tells GlobeSt.com the REIT never discloses acquisition prices. The company also didn’t disclose the properties’ ages and their average asking rents.