EULESS, Texas –BIG Shopping Centers USA, based in Beverly Hills, Calif., recently purchased Shops at Vineyard Village in Euless, Texas, an affluent north-central suburb of Dallas-Forth Worth. According to Stan McElroy, President of BIG Shopping Centers, the purchase was for an undisclosed amount from Texas-based seller Berk Collins & Co. Ltd.
Shops at Vineyard Village, which opened in 2007, has a 98.8% occupancy rate with anchor retailers that include Staples, Ross, Marshalls, PetSmart and Bed Bath & Beyond. The shopping center also includes shadow anchors Lowe’s and LA Fitness, as well as several individual outlot buildings. The center is located on the southwest corner of Glade Road and State Highway 121, a major north-south arterial.
Northbrook, IL-based Pine Tree Commercial Realty provided due diligence services and is currently managing the property.
BIG, which specializes in building and managing strip malls in Israel, the U.S., India and Serbia, will continue to look for larger retail centers in America. “We see intensive activity in the U.S. as our main growth engine for 2011,” says McElroy. “While the American economy is stabilizing, it is far from its pre-crisis peak.”
Big Shopping Centers, Inc. http://www.bigcenters.co.il
Pine Tree Commercial Realty: www.pinetreecommercial.com
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