Inland Western acquires Texas shopping center for $35 million

Oak Brook, Ill. -- Inland Western Retail Real Estate Trust announced Wednesday the acquisition of Sawyer Heights Village in a joint venture with RioCan Real Estate Investment Trust.

Sawyer Heights Village, a 107,626-sq.-ft. power center located just outside the central business district in Houston, was purchased for approximately $35 million. 

“Texas ranks number two in the nation for having the highest economic output over the past decade, and we are pleased to expand our Texas portfolio to more than 9.6 million sq. ft. under management,” said Shane Garrison, chief investment officer of Inland Western.

Sawyer Heights Village is anchored by Staples and PetSmart and shadow-anchored by Target.