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$2M Bags Jensen Square

HOUSTON-A Long Island, NY partnership buys a San Antonio investment group's 80,000-sf Jensen Square, an 80%-leased property with its anchor still undecided if it's going to renew a footprint for 20% of the retail space.

By Jennifer Brenner Andrade | Updated on May 18, 2004

HOUSTON-The 80,000-sf Jensen Square has traded to a Long Island, NY partnership for close to the $2.1-million asking price.

The buyer turned around 1031 Exchange capital and placed new debt to take over the 80%-leased asset at 9111 Jensen Drive on the north side of the city, Gus Lagos with Grubb & Ellis Co.’s Houston office tells GlobeSt.com. The principals behind the buying partnership, 9111 Jensen LLC, own about 40 shopping centers nationwide in a mixed ownership lineage.

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