Pecan Promenade video
• Off-market acquisition of a 2006 constructed, 141,500 SF multi-tenant retail property located in the Phoenix submarket of Tolleson, Arizona
• CIRE will immediately benefit from high project occupancy (approximately 88% at acquisition) and steady cash flows from national and regional retailers
• National retailers include Ross, LA Fitness, Kirkland’s, Dollar Tree and Starbucks
• Basis/risk reduction strategy includes the potential partial sale of a parceled portion of the center, resulting in a significantly reduced effective basis and significantly increased cap rate to adjusted basis
• Immediate implementation of a local/regional rebranding campaign to reintroduce the asset and new ownership to the marketplace
• Lease-up of the remaining vacancies and the implementation of CIRE’s hands-on operational practices, designed to improve financial performance through realized efficiencies and reduced operational costs
Property Type:
Multi-tenant Retail
Sub-Market:
Phoenix (Tolleson), AZ
Number of Bldgs:
Five (5)
SF / Acres:
141,500 SF / 16.15 acres
Year Built:
2006
Current Occupancy:
88%