Inland Western Retail Real Estate Trust acquires Texas center
Oak Brook, Ill. — Inland Western Retail Real Estate Trust has announced the acquisition of Alamo Ranch in a joint venture with RioCan Real Estate Investment Trust. The 469,031-sq.-ft. shopping center is located in San Antonio, Texas, and was purchased for approximately $92.2 million.
The acquisition is the fifth this year for the Inland Western/RioCan joint venture, expanding the venture to over 3 million sq. ft. of retail assets under management with 13 properties in total, all in Texas. Inland Western’s Texas portfolio includes more than 10 million managed sq. ft., including over one million sq. ft. in the San Antonio market.
Alamo Ranch is a power center tenanted by Best Buy, OfficeMax, PetSmart, Dick’s Sporting Goods, Marshalls and Ross Dress for Less. Alamo Ranch is shadow-anchored by Super Target, J.C. Penney and Lowe’s.
RMC Property Group names leasing exec
Tampa, Fla. — RMC Property Group said that Charles Boscarino has joined the company as the newly appointed VP of leasing.
Boscarino replaces Bobby Eggleston, who has been promoted to VP of RMC and will be involved in the areas of acquisitions and new development.
Boscarino previously served as VP real estate and store development for Bealls Stores, where he was primarily responsible for the development, expansion, and marketing of 500 stores in 14 states.
Sabre Real Estate names exec
Garden City, N.Y. — Sabre Real Estate Group said that Scott Sher has been named senior VP of the retail real estate brokerage firm.
Formerly director of real estate-northeastern region at Katz & Associates Corp., of Pearl River, Sher specializes in tenant and landlord representation in the New Jersey, Manhattan, Outer Boroughs, Westchester and Long Island markets.