{"id":1004194028,"date":"2017-10-18T12:18:19","date_gmt":"2017-10-18T20:18:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004194028"},"modified":"2022-12-08T23:46:28","modified_gmt":"2022-12-09T07:46:28","slug":"blackstone-affiliate-sells-ut-retail-center-for-33m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-affiliate-sells-ut-retail-center-for-33m\/","title":{"rendered":"Blackstone Affiliate Sells UT Retail Center for $33M"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004194029\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Red-Rock-UT-retail.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004194029\" data-attachment-id=\"1004194029\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/blackstone-affiliate-sells-ut-retail-center-for-33m\/red-rock-ut-retail\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Red-Rock-UT-retail.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&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;1&quot;}\" data-image-title=\"Red Rock UT retail\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Red Rock Commons&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Red-Rock-UT-retail.jpg?w=800\" class=\"wp-image-1004194029 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Red-Rock-UT-retail.jpg\" alt=\"Red Rock Commons\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Red-Rock-UT-retail.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Red-Rock-UT-retail.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Red-Rock-UT-retail.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004194029\" class=\"wp-caption-text\">Red Rock Commons<\/p><\/div>\n<p>Pacific Castle has purchased Red Rock Commons, a 134,152-square-foot retail center in St. George, Utah, for $33.2 million. The seller, Shopcore, an affiliate of The Blackstone Group, was represented by Pete Bethea, executive managing director and Rob Ippolito and Glenn Rudy, senior managing directors, in <a href=\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-drops-grubb-prepares-for-ipo\/\">Newmark Knight Frank<\/a>\u2019s retail division. The buyer was self-represented.\u00a0<\/p>\n<p>Built in 2011 and 2012, the retail center is located at 15 S. River Road, occupying\u00a019 acres, and consists of four multi-tenant and two freestanding pad buildings. The property is situated just off Interstate 15 at the northeast corner of S. River Road and E. 100 S.<\/p>\n<p><em>&#8220;Red Rock Commons has been extremely well-managed and is one of the best shopping centers in the market,&#8221;<\/em> said Bethea, in prepared remarks. <em>&#8220;The buyer has secured a quality fully leased asset with 90 percent of its net operating income derived from strong credit, national brands.&#8221;<\/em> Some of the center\u2019s tenants include Dick\u2019s Sporting Goods, Old Navy, Petsmart, Ulta Salon and The Gap.<\/p>\n<p><em>Image courtesy of Newmark Knight Frank<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Newmark Knight Frank has completed the sale of Red Rock Commons, a 134,152-square-foot retail center in St. George, on behalf of Shopcore.<\/p>\n","protected":false},"author":871,"featured_media":1004194029,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,21742,21749,15],"tags":[36007,38012,33129],"class_list":["post-1004194028","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-latest","category-retail","category-west","tag-newmark-knight-frank","tag-shopcore","tag-the-blackstone-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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