Neighborhood shopping centers Grand Marketplace (St. Louis) and Cortaro
Crossing (Tucson) are newest acquisitions for Denver-based firm
DENVER--(BUSINESS WIRE)--Baceline
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Investments, LLC, a boutique private equity real estate investment
and management company with neighborhood shopping center holdings
throughout the Central United States, has announced the acquisition of
two properties for $7.1 million bringing the portfolio total to 29 with
a value of nearly $160 million. Baceline has acquired Grand Marketplace
in St. Louis for $2.21 million and Cortaro Crossings in Tucson, Ariz.
for $4.91 million.
Grand Marketplace is a 9,971-square-foot neighborhood center that was
constructed in 2007. Located just north of Highway 40 and North Grand
Blvd., it is currently 100 percent leased, including tenants City Gear,
Instant Tax Service, Boost Mobile and Check n’ Go. The center is shadow
anchored by Save-A-Lot and Walgreens stores.
Cortaro Crossing, located at 5850 W. Arizona Pavilions Dr., is a 19,901
SF multi-tenant neighborhood shopping center located in a predominate
retail hub known as the Arizona Pavilion, and serves a large customer
base due to limited competing centers and its proximity to I-10. Tenants
include local restaurants, Taekwondo and insurance operators.
“Our investment strategy focus zeroes in on neighborhood shopping
centers that provide everyday goods and services and community
convenience,” said David Puchi, Baceline’s Managing Partner. “This means
businesses that are internet-resistant and located in highly visible and
densely populated communities. Grand Marketplace and Cortaro Crossings
perfectly align with this strategy and are great additions to our
portfolio.”
Baceline’s targeted core income strategy focuses on holdings in the
country’s midsection and is designed to benefit investors who seek to
earn consistent and higher levels of distributable income from their
portfolio.
About Baceline Investments
Founded in 2003, Baceline Investments, LLC is a Denver-based privately
held boutique real estate investment and management company that
specializes in the acquisition, management, and sale of cash-flowing,
necessity-based everyday goods and services neighborhood shopping
centers located in select secondary markets across America's Heartland.
By avoiding high-priced and competitive commercial real estate markets
on the coasts, Baceline’s Heartland focus provides untapped investment
opportunity. This unique approach allows investors to better diversify
their investment portfolio. Learn more about Baceline Investments at www.bacelineinvestments.com
or LinkedIn.
Contacts
Bluebird Branding
Jim Miller, 303-906-4866
or
Baceline
Investments
Katie Lyon, 303-877-2859