1/15/2008

JV purchases 590,000 sf retail center in Houston

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Fountains on the Lake

A joint venture between Pacific Coast Capital Partners, LLC and Dallas, Texas-based Dunhill Partners has acquired the Fountains on the Lake retail center in the Houston suburb of Stafford from Kimco Realty Corporation.

The Pacific Coast/Kimco venture was represented by Dunhill while Randy Fleisher of CB Richard Ellis secured financing for the acquisition through Prudential.

The retail center contains 589,201 square feet and is comprised of 25 buildings, a theater parcel and eight restaurant and bank parcels. Built between 1996 and 1997, it is situated on 74 acres at 12610 Fountain Lake Circle. It is currently 98 percent occupied by tenants including Old Navy, Bed Bath & Beyond, Saks Fifth Avenue, Loews Cinema, Fuddruckers and Cold Stone Creamery. The joint venture plans to develop an additional 50,050 square feet of retail space.

Address: 12610 Fountain Lake Circle, Stafford, Texas

Size: 589,201 square feet

Built: 1996-1997

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Filed Under: Retail

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