Wal-Mart Picks Up Retail Center In Hot Texas Market

Law360, New York (February 22, 2013, 3:31 PM EST) -- In a nod to the burgeoning retail market in Texas' Dallas-Forth Worth area, Wal-Mart Stores Inc. has picked up a new spot anchoring a large shopping center from Centennial Real Estate Co. LLC, the seller's brokers announced Thursday.

The deal gives Wal-Mart a new 58,000-square-foot property in Plano's Preston Parker Crossing. Financial details were not disclosed, but the transaction required the negotiation of a lease termination between Wal-Mart and supermarket chain Sprouts Farmers Markets LLC, according to broker Venture Commercial Real Estate LLC. Sprouts had picked...
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