Texas investment firm acquires Newport Pavilion

NEWPORT, Ky. (WKRC) - A national commercial real estate investment firm based in Dallas, Texas announced Monday that it has acquired Newport Pavilion.

The Rainier Companies says it will provided property management and leasing for the area through local partnerships.

Newport Pavilion is a 336,900-square-foot shopping center, and features businesses such as Kroger, Target, TJ Maxx, Dick’s Sporting Goods, ULTA, PetSmart, and Chick-Fil-A.

“Newport Pavilion is a great addition to our growing retail portfolio,” said Rainier President and CEO Danny Lovell. “We have been strategically seeking market-dominant shopping centers the last four years, and Newport undoubtedly checks the boxes. This acquisition has increased our retail portfolio to 4.5 million square feet of suburban grocery-anchored shopping centers, and we’re on the hunt for more.”