December 21, 2012
Albertson’s Vacant Box Acquired
Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture acquisition of a vacant Albertson’s Box (the “Property”). The property consists of 56,562 rentable square feet within the larger Village Park neighborhood shopping center located off of Colleyville Boulevard and Glades Road in Colleyville, TX, an affluent suburb in the Dallas – Ft. Worth MSA. The acquisition of a vacant Albertson’s Box allowed the center’s ownership to be unified under one title-holder. This transaction closed on December 21, 2012. The property was acquired almost simultaneously with the signing of a lease with Whole Foods which will occupy a majority of the vacant grocer’s box. Additionally, junior anchors, including Petco, have inquired about any space remaining next to the national credit anchor.
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.