The Praedium Group LLC, Centennial Real Estate Corp. and Westmount Realty Capital LLC purchased four former Albertsons locations and the Spring Creek Crossing Shopping Center for a total price of $29.5 million.
The former Albertsons locations, which total 238,247 square feet, are located in Plano, Frisco, Mesquite and Mansfield, Texas. All four locations were vacant at the time of purchase, providing a significant lease-up opportunity.
The Spring Creek Crossing Shopping Center, located in Plano, totals 145,247 square feet. The property, which also includes a recently vacated Albertsons grocery box, was 32 percent occupied at the time of acquisition.