$176M Bank shot hits The Rim in San Antonio$176M Bank shot hits The Rim in San Antoniohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=47972014-02-27T12:50:00Z2014-02-27T06:45:00Z

SAN ANTONIO - Hines Global REIT has acquired 796,445 sf of The Rim for $176.4 million in Northwest San Antonio. The property is currently 99.5 percent leased to national tenants including Best Buy, JCPenney, Nordstrom Rack, Saks Off 5th and TJ Maxx.

The purchase was for phases one through four at the corner of I-10 and Hwy. 1604. Hines Global REIT acquired rights to 259,656 sf currently under construction and anticipated to be completed by the end of 2014, as well as the right to purchase an additional 97,000 sf in phase five.

Developer Thomas Land & Development is currently developing phase five which is slated to be complete by the end of 2015.

The Rim is an outdoor retail center totaling 1,812,492 sf.

Read more at the Securities and Exchange Commission.

Company News Release
San Antonio-New Braunfels
http://www.globest.com/news/12_799/southwest/retail/hines-global-reit-buys-san-antonios-the-rim-342975.htmlRead more at {Source}

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