Pacific Retail Capital Partners (“PRCP” or the “Company”), one of the nation’s leading retail real estate development, investment, management and advisory firms focused exclusively on evolving retail-led real estate, today announced it has assumed management and leasing responsibilities at Park Place in Tucson, Arizona. Park Place is a 1.1 million square foot fashion and entertainment destination, and marks PRCP’s first property under management in Arizona.
“We are proud to enter a fundamentally strong retail market in Tucson by adding Park Place to our portfolio,” said Pacific Retail Capital Partners Founder and CEO, Steve Plenge. “Park Place is a best-in-class shopping center and aligns with our strategy of entering high-growth markets. We are excited to apply our best-in-class management and leasing approach to energize this shopping center so that it operates more efficiently and better serves the needs of the Tucson community.”
Park Place, located at 5870 East Broadway Blvd., is situated on the east side of Tucson and serves as the dominant retail center in the market. The property boasts six anchors including Century Theaters, Dillard’s, Round 1, Total Wine & More, Ulta Beauty and Old Navy, and features more than 12 dining options in the food court, a Southwest-themed children’s play area and 12-foot video display wall.
Plenge continued, “We bring a thoughtful and purposeful approach to the management of our properties, and rely on our decades-long relationships with leading national and regional retailers to bring customers a unique mix of shopping, dining and entertainment options. As a company, our goal is to evolve real estate for the next generation, and we’re excited to bring that ethos into a new market.”
About Pacific Retail Capital Partners:
Pacific Retail Capital Partners (PRCP) is one of the nation’s premier retail operating groups of large open- air and enclosed shopping centers, with more than $3.0 billion in assets under management across the United States. Based in Southern California, the company’s portfolio totals 24 properties encompassing over 20 million square feet. With a highly experienced team that has a proven track record of generating value to its stakeholders, PRCP is dedicated to evolving real estate for the next generation by working with the communities it serves to design master plans that transform its assets into high-performing mixed-use destinations. The vertically-integrated company provides end-to-end sourcing, assessment, underwriting, valuing, developing, marketing, design and asset management services. To learn more visit pacificretail.com or follow on social media at: Facebook: @PacificRetailCapitalPartners and Instagram: @PacificRetail.
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