REIT pays $33M for Kleinwood Center with H-E-B

SPRING – Phillips Edison-ARC Shopping Center REIT Inc. acquired Kleinwood Center, a 148,963-sf retail property at 7312 Louetta Rd., for $32.5 million.

Located at the intersection of Louetta and Stuebner Airline Roads, the H-E-B anchored center is 92 percent occupied.

The seller was Charter Hall Retail REIT and Regency Centers Corp.

Source: Phillips Edison & Company