{"id":1004152920,"date":"2016-09-21T01:05:22","date_gmt":"2016-09-21T09:05:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004152920"},"modified":"2020-04-30T00:14:42","modified_gmt":"2020-04-30T08:14:42","slug":"pacific-retail-capital-partners-nabs-2-8-msf-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pacific-retail-capital-partners-nabs-2-8-msf-portfolio\/","title":{"rendered":"Pacific Retail Capital Partners Nabs 2.8 MSF Portfolio"},"content":{"rendered":"<p>By Keith Loria, Contributing Editor<\/p>\n<div id=\"attachment_1004152940\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Galleria.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004152940\" data-attachment-id=\"1004152940\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/pacific-retail-capital-partners-nabs-2-8-msf-portfolio\/galleria\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Galleria.jpg\" data-orig-size=\"1039,692\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Ioana Neamt&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1474451061&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Galleria\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Galleria.jpg?w=1024\" class=\"wp-image-1004152940 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Galleria.jpg\" alt=\"The Galleria at White Plains, N.Y.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Galleria.jpg 1039w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Galleria.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Galleria.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/09\/Galleria.jpg?resize=1024,682 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004152940\" class=\"wp-caption-text\">The Galleria at White Plains, N.Y.<\/p><\/div>\n<p><strong>Los Angeles<\/strong>\u2014<a href=\"https:\/\/pacificretail.com\/\" target=\"_blank\" rel=\"nofollow\">Pacific Retail Capital Partners<\/a> has acquired a portfolio of three regional malls totaling approximately 2.8 million square feet, in a joint venture with an investment partner.\u00a0The venture was represented by <a href=\"https:\/\/www.orrick.com\/\" target=\"_blank\" rel=\"nofollow\">Orrick<\/a> in the transaction.<\/p>\n<p>The properties consist of The Galleria at White Plains in N.Y.; Northpark Mall, in Ridgeland, Miss.; and The Esplanade in Kenner, La. Combined, the properties&#8217; value is in excess of $200 million.<\/p>\n<p>\u201cThese are all well-located regional malls that we identified as centers that will benefit from our focused management and community-specific programs,\u201d Steve Plenge, Pacific Retail Capital Partners managing principal, told <em><a href=\"https:\/\/www.commercialsearch.com\/news\/\" target=\"_blank\">Commercial Property Executive<\/a><\/em>. \u201cEach asset will have a plan that is tailored to enhance the property building on its strengths and identifying the opportunities to improve performance, whether its from a new leasing plan, physical upgrades or development on the property.\u201d<\/p>\n<p>The Galleria at White Plains is a four-level, approximately 870,000-square-foot enclosed regional mall located at 100 Main St. The center is currently home to\u00a0130 retailers, including Macy\u2019s, Sears, H&amp;M, Forever 21 and a host of eateries.<\/p>\n<p>Northpark Mall is a two-level, approximately 958,000-square-foot mall situated on almost 100 acres at 1200 E. County Line Road. It is home to\u00a0120 retailers and eateries, such as Dillard\u2019s, Belk, H&amp;M, Victoria\u2019s Secret, Footlocker and Sephora.<\/p>\n<p>Located at 1401 W. Esplanade Ave. in Kenner, La., The Esplanade sits on 80 acres just five minutes from the New Orleans International Airport and just 15 minutes from downtown New Orleans. The mall comprises\u00a0more than one million square feet.<\/p>\n<p>\u201cPacific Retail brings its broad experience in retail as an operating partner,\u201d Plenge said. \u201cWe find that there is untapped potential in many B and B+ malls.\u00a0These centers still provide a valuable resource in the community and with proper care can once again be an appealing gathering spot.\u201d<\/p>\n<p>According to Plenge, the company will perform a comprehensive review of every aspect of the center, from the physical space to the tenant array and entertainment options.<\/p>\n<p>\u201cOur team creates and implements a plan that will improve the center in a way that aligns with what is valued in that specific community,\u201d he said. \u201cThis approach has proven to be successful in reviving struggling centers across the country.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The combined value of the three retail assets is in excess of $200 million.<\/p>\n","protected":false},"author":451,"featured_media":1004152940,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,1594,1600,21742,10,21749],"tags":[],"class_list":["post-1004152920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-los-angeles","category-new-york","category-latest","category-northeast","category-retail"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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