Galleria strip center sold

Chicago-based RREEF has acquired Galleria North, a 94,000 sq. ft. upscale shopping center at the northwest corner of Alpha and Noel roads in Dallas. The property is 100% leased to seven tenants, including The Container Store, Crate & Barrel, Z Gallerie and Restoration Hardware.

Barry Brown in the Dallas office of Holliday Fenoglio Fowler L.P. negotiated the deal.

The seller, Houston-based Hines Interests, had originally packaged Galleria North with the adjacent Galleria mall and Westin hotel when it put the properties up for sale in April. Hartford, Conn.-based UBS Realty Investors is expected to close soon on its acquisition of the 1.8 million sq. ft. Galleria mall. Insiders put the price tag for the mall at close to $300 million.

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