Weingarten Hawks 304,300-SF Vintage Center

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HOUSTON-Weingarten Realty Investors has checked off another deal in its bid this year to sell $250 million to $350 million of non-core assets nationwide. The latest hand-off is the 304,300-sf Fondren Southwest Village.

New York City investment group, Surrey Equities LLC, has acquired a 78%-leased, 32.4-acre retail block that spans two hard corners of the high-traffic intersection at Fondren Road and Bellfort Avenue. The dealmakers aren’t commenting about the sale price, but tax records show the holding is assessed at nearly $9.1 million. Given its dominance in the southwest sector, Fondren Southwest Village could have brought $80 per sf based on other retail trades of late 1970s-era centers, but a local market watcher says the actual price is too hard to nail down because it boils down to Weingarten’s pent-up demand to sell.