Excel Trust Inc. of San Diego has bought the Plaza at Rockwall for $40.8 million.

The 334,027-square-foot shopping center at Interstate 30 and State Highway 205 is anchored by J.C. Penney , Best Buy , Dick’s Sporting Goods, Staples and Belk’s stores.

Plaza at Rockwall was developed by Fort Worth-based Woodmont Cos. The purchase includes almost 13 acres for additional development. The new owner said it hopes to begin construction on a second phase to the center later this year.

Excel Trust, which went public in April, recently bought retail centers in Pennsylvania, West Virginia and Georgia. The real estate investment trust owns an 86,000-square-foot shopping center in Fort Worth.

To view aerial photos of the shopping site click here.

Source: Dallas Morning News