posted on July 25, 2011 22:01
A Canadian real estate investor has purchased Arlington's Lincoln Square at Interstate 30 and North Collins Boulevard for $70.7 million.
The 444,500-square-foot retail center is anchored by Ross Dress for Less, Best Buy, Bed, Bath & Beyond and PetSmart . Other retailers include Stein Mart , Gap, Ann Taylor and Lane Bryant.
Toronto-based RioCan Real Estate Investment Trust plans to increase cash flow through leasing up 40,850 existing square feet of vacancy.
RioCan purchased the property with Dallas-based Dunhill Partners , which has an 18 percent ownership stake in the property. Dunhill will manage the property on behalf of the group.
The property was financed with a $42.4 million, 10-year loan.
7/15/11, Candace Carlisle, Dallas Business Journal