News

April 12, 2012
The Crossing Shopping Center Acquired

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture acquisition of the Crossing Shopping Center (the “Shopping Center” or the “Property”) in North Richland Hills, TX. The property was 76 percent occupied at acquisition and is an institutional-quality community center anchored by a Kohl’s Department Store (ground lease) and shadow-anchored (not-owned) by a Kroger Signature Grocery Store. The shopping center consists of approximately 187,381 square feet, not including Kroger’s square footage, and was acquired on April 12, 2012.

The property is located at the intersection of Grapevine Highway and Precinct Line Road in North Richland Hills, Tarrant County, TX, an affluent suburb of the Dallas - Ft. Worth MSA. Grapevine and Precinct Line Road have combined traffic counts of approximately 50,000 vehicles per day.

Atlantic Creek, with offices in New York, NY, Palm Beach, FL, and Los Angeles, CA, targets direct and joint venture investments in opportunistic and value add office, retail, and multi-family commercial real estate primarily located on the East and West Coasts of the U.S., Texas and other select U.S. markets.

For further information on new acquisitions and joint venture opportunities, please contact Joshua Schwalbe, Senior Vice President, in our New York, NY office at (212) 381-7617 or Jon Trucano, Senior Vice President, in our Palm Beach, FL office at (561) 275-7702.