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LAREDO, TEXAS — Dallas-based Kobalt Investment Co. has purchased the 222,291-square-foot Rio Norte Shopping Center in the Rio Grande Valley city of Laredo. Ross Dress for Less anchors the center, which is also home to tenants such as Michael’s, Petco, Dollar Tree, Shoe Carnival and Five Below. Adam Howells and Matthew Barge of JLL represented the undisclosed seller in the transaction. Kobalt purchased the property in partnership with Dallas-based Stonefield Investment Advisors and San Antonio-based Espada Real Estate.