Wednesday, May 07, 2014

North Dallas shopping center getting new owner

Lincoln Park shopping center is across from NorthPark Center mall. (Google Streetview)
A real estate investment trust is buying a high-profile North Dallas shopping center.
Illinois-based Retail Properties of America Inc. said Monday that it has agreed to buy the Lincoln Park shopping center at Northwest Highway and Boedeker Street in Dallas.
The retail complex across from NorthPark Center mall is anchored by Tom Thumb, Barnes & Noble and Cheesecake Factory.
Retail Properties of America is buying the 80 percent stake in Lincoln Park that it already didn’t own from partner Inland Real Estate. The Dallas purchase was part of a larger $234 million transaction that includes six properties in Texas, Illinois, Georgia, Florida and New York.
Seller Inland Real Estate has owned Lincoln Park since 2004.
Retail Properties of America is one of the largest owners and operators of shopping centers in the United States with 227 properties.  By Steve Brown