Equity One bags Kroger-anchored centers

Adds two properties in north Texas

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Equity One Inc. completed the separate acquisitions of Creekside Plaza Shopping Center in Arlington, Texas, and The Village Center in Southlake, Texas, for a total of 219,108 square feet. The total value of the transactions was $31.5 million. Creekside Plaza is a 101,016-square-foot shopping center anchored by a 60,932-square-foot Kroger Signature supermarket, Hollywood Video and Washington Mutual. The center includes 28,384 square feet of local tenant space and was 100 percent leased at the time of sale. The first phase of Creekside Plaza was completed in 1997 with the second phase completed the following year. The center is situated on 18.9 acres at the intersection of State Highway 360 and Green Oaks Boulevard in Arlington, Texas. In connection with the purchase, Equity One acquired a 2.5-acre pad site and additional unimproved land for future development of approximately 5,000 square feet of additional retail space. The Village is a 118,092-square-foot shopping center anchore...