posted on February 20, 2012 13:51
A California-based investment trust has purchased Woodland West Marketplace, a two-building, 176,414-square-foot retail property at Bowen Road and Park Row Drive in Arlington.
The Arlington property — which includes two additional ground-leased parcels of land — was acquired for an undisclosed sum by TNP Strategic Retail Trust Inc., a public non-traded REIT that invests in grocery and drugstore anchored retail properties.
Woodland West Marketplace is anchored by Tom Thumb Food & Pharmacy . Other tenants include the U.S. Post Office, Hallmark, Tuesday Morning , Bank of America and Goodyear.
The property is 87 percent leased.
The investment trust was attracted to the property because of its tenant mix and high-population density, said Steve Corea, senior vice president of acquisitions for the group.
2/10/12, Candace Carlisle, Dallas Business Journal