Pacific Retail Capital Partners recently took over management of the property; a mall with more than 1.1 million square feet of space, and six anchor businesses, including a Round 1 and Old Navy.
Pacific Retail Capital Partners out of Los Angeles recently took over management of the property on Tucson's east side; a mall with more than 1.1 million square feet of space, and six anchor businesses, including a theater, Round 1 gaming center, Ulta Beauty and Old Navy.
This will be PRCP's first property under management in Arizona, according to a news release issued by the company. PRCP has more than $3 billion in assets under management across the country; that's 24 properties totaling more than 20 million square feet of space. “We are proud to enter a fundamentally strong retail market in Tucson by adding Park Place to our portfolio," Pacific Retail Capital Partners founder and CEO, Steve Plenge said in a press release. “Park Place is a best-in-class shopping center and aligns with our strategy of entering high-growth markets.
PRCP said that all employees with Park Mall will be staying on. The company also hired a leasing manager and marketing manager.
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