DALLAS--(BUSINESS WIRE)--Lincoln Retail Income and Growth Fund, LLC (“Lincoln Retail”) announced today that it acquired its first asset, The Shops at Colorado, a 74,310 square-foot power center located in the rapidly growing college town of Denton, Texas.
Situated just 25 miles north of the Dallas/Fort Worth International Airport with visibility off a major Texas state highway, The Shops at Colorado is 100% occupied and has long-term leases in place with an average of over eight years of remaining term.
Major tenants include Bed Bath & Beyond, Spec’s Wines, Spirits and Finer Foods, Party City, and Sherwin Williams.
"We are pleased with the acquisition of this well-located retail shopping center with quality tenants,” said Jeff Deweese, Senior Vice President of Lincoln Property Company. “We believe the strong tenant base and its strategic location combined with our longstanding experience managing real estate assets, will help increase the value of this property.”
About Lincoln Retail
Lincoln Retail is affiliated with Lincoln Property Company, one of the largest and most diversified real estate services firms in the U.S. that manages more than $76 billion in real estate assets. Lincoln Retail primarily focuses on acquiring anchored, needs-based retail properties with a focus on power centers and lifestyle centers, as well as grocery-anchored shopping centers, neighborhood centers and other necessity-based shopping centers located throughout the United States.