Lincoln Retail Income and Growth Fund Completes First Acquisition

Lincoln Retail Income and Growth Fund LLC, a Regulation D fund, has acquired its first asset, The Shops at Colorado, a 74,310 square-foot power center located in the college town of Denton, Texas.

Lincoln Retail Income and Growth Fund LLC, a Regulation D fund, has acquired its first asset, The Shops at Colorado, a 74,310 square-foot power center located in the college town of Denton, Texas. The purchase price was not disclosed.

Situated 25 miles north of the Dallas/Fort Worth International Airport with visibility off a major Texas state highway, The Shops at Colorado is 100 percent leased to various tenants including Bed Bath & Beyond, Spec’s Wines, Spirits and Finer Foods, Party City, and Sherwin Williams. The average remaining lease term is more than eight years.

“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.”

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. The fund is affiliated with Lincoln Property Company, a real estate services firm that manages more than $76 billion in real estate assets.

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