KATY, TX--InvenTrust Properties Corp. has acquired Price Plaza, a 205,813-square-foot, 92 percent occupied power center located in Katy for approximately $35.8 million.
"[The acquisition of] Price Plaza further strengthens our presence in target markets," Michael E. Podboy, executive vice president – chief financial officer, chief investment officer of InvenTrust, said in a release.
"We believe that [this acquisition] and our overall strategy, will further strengthen InvenTrust's portfolio, improve our portfolio population and income demographics and provide opportunities to grow net operating income so that we can continue to drive value for shareholders."
The center is anchored by Ross Dress for Less, Jo-Ann Fabrics and Best Buy with shadow anchors that include Sam's Club, Walmart SuperCenter and The Home Depot.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
