Business

InvenTrust acquires Texas shopping centers for $189 million

Posted February 06, 2022 10:00 pm

DOWNERS GROVE - InvenTrust Properties Corp. Monday said it recently acquired two shopping centers in Austin, Texas, for $189.3 million.

The transactions include The Shops at Arbor Trails, a 357,000-square-foot center anchored by Costco Wholesale and Whole Foods. InvenTrust also acquired Escarpment Village, a 168,000-square-foot shopping center anchored by HEB, the region's top grocer.

"These properties are great additions to our portfolio and further strengthen our foothold in the highly sought after Austin market," said David Heimberger, chief investment officer of InvenTrust.

Downers Grove-based InvenTrust is a real estate investment trust that owns, leases, redevelops, acquires and manages shopping centers, usually having often have a grocery store component and primarily throughout the Sun Belt.

The Shops at Arbor Trails and Escarpment Village are 99% and 100% leased, respectively. Both centers have components of sustainability, such as solar and water reclamation systems, which continue to be important initiatives in InvenTrust's investment strategy, the company said.

Downers Grove-based InvenTrust Properties Corp. recently purchased Escarpment Village shopping center in Austin, Texas. Business Wire

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