AmREIT, a real estate investment trust, announced that two of the funds it manages have purchased Casa Linda Plaza, a 324,569-square-foot shopping center in Dallas, Texas, for an undisclosed price.
Originally built between 1946 and 1949, Casa Linda Plaza — located at the intersection of Buckner Road and Garland Road near White Rock Lake — is recognized as the second-oldest shopping center in Dallas and has long been the town center of east Dallas retail, according to a press statement. Anchored by Albertson’s and Petco at the time of sale, the center also features tenants such as 24-Hour Fitness, Starbucks, Wachovia, Chili’s, Casa Linda Cafeteria, Blockbuster, Washington Mutual, El Fenix and Guarantee Federal Bank.
AmREIT Realty Investment Corp., a wholly owned affiliate of AmREIT, will manage the property as well as a planned restoration and redevelopment.
Commenting on the acquisition, Steve Hefner, AmREIT’s vice president and managing director for the Dallas region, stated, “Our vision for Casa Linda Plaza is to upgrade this center while retaining its beautiful Spanish-style architecture and character … We will work with the community to protect and restore this historic gem … In doing so, we hope that this vision will restore Casa Linda Plaza to its east Dallas stature of long ago.”
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