We're proud to share a recent press feature in Real Estate Alert by Green Street highlighting Thomas Pasquesi, Executive Vice President of Investments at PRCP, where he provided key insights into the current state of the retail real estate market. Pasquesi discussed the resilience of brick-and-mortar retail, emphasizing that the sector has strengthened significantly despite the challenges posed by the rise of internet sales and the pandemic. He expressed confidence in the long-term potential of retail spaces, noting that the outlook for the industry is increasingly positive. Read the quotes below for his perspective on Pacific Retail's strategy of navigating the evolving market with a focus on long-term stability and growth. #PacificRetail #RetailRealEstate #MarketInsights #CRE #BrickAndMortar #Resilience #RetailTransformation #Leadership #IndustryExperts
Pacific Retail Capital Partners
Commercial Real Estate
Los Angeles, California 7,510 followers
Evolving real estate for the next generation.
About us
Evolving Real Estate for the Next Generation Establishing mixed-use and community-centric places and spaces that enrich lives and create value. Pacific Retail Capital Partners (PRCP) is one of the nation’s premier real estate investment groups of large format retail-led properties, with more than $3 billion in assets under management in the United States. Based in Southern California, PRCP strategically manages over 20 million square feet of regional, open-air lifestyle and mixed-use centers. With a proven track record of evolving and repositioning retail-led properties with a keen focus on unlocking the value and enhancing the quality of its growing portfolio, PRCP is dedicated to creating a unique and strategic vision for each property and exceeding the highest expectations of investors, retailers, and consumers.
- Website
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http://www.pacificretail.com
External link for Pacific Retail Capital Partners
- Industry
- Commercial Real Estate
- Company size
- 51-200 employees
- Headquarters
- Los Angeles, California
- Type
- Privately Held
- Founded
- 2008
Locations
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Primary
2029 Century Park E
#1550
Los Angeles, California 90067, US
Employees at Pacific Retail Capital Partners
Updates
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New Store Alert: We’re thrilled to announce the opening of Chubbies Shorts at Crabtree Valley 🌸, adding an exciting and vibrant brand to our tenant mix. Known for their bold and comfortable casual wear, Chubbies has quickly become a favorite for those seeking the perfect blend of style and leisure. The center hosted a jammed packed grand opening party this past weekend with hundreds awaiting the store to open their gates. Safe to say this brand will be a hit in the Raleigh community. This new addition aligns with our leasing strategy to diversify our offerings and create a dynamic shopping experience for our visitors. Chubbies’ unique brand personality and commitment to high-quality, fun apparel will undoubtedly resonate with the shoppers and contribute to the vibrant atmosphere at Crabtree Valley Mall. #Chubbies #CrabtreeValleyMall #NewStoreOpening #RetailLeasing #CRE #PacificRetail #RetailRealEstate #ShoppingExperience #Leasing #PRCP #AssetManagement
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Tapville is open Yorktown Center! This Drink While You Shop concept ads a great new and unexpected experience to the shopping environment that we know will be a hit for our customers.
Join Tapville tomorrow at Yorktown Center in Lombard, IL, for the grand opening of our brand-new Drink While You Shop location! 🍷 Our team is adding the final touches, and we can’t wait to celebrate with you! Register here for updates: https://lnkd.in/g7g2Ryih #tapville #betterway #drinkwhileyoushop #retail #NextGen Pacific Retail Capital Partners
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An awesome marketing opportunity in sunny San Diego!
https://lnkd.in/eiZ6xbDH Parkway has a job opening! Come grow with us!
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🌟 Congratulations to our Marketer of the Month, Laura Antoon! 🌟 Laura is the Marketing and Business Development Manager at Northpark in City of Ridgeland, and has been an instrumental force behind the mall’s ongoing success. Her dedication, creativity, and strategic vision have played a key role in driving foot traffic, enhancing the shopper experience, supporting local and national tenants and strengthening community partnerships. Laura serves on PRCP's digital committee and is a digital guru to her peers. A leader in the industry and her market, she serves on multiple community boards and organizations. Her results driven programs and events have been globally recognized in the CRE industry. Laura’s innovative approach to marketing and her deep understanding of the local market have helped Northpark continue to thrive as a vibrant community hub. We’re proud to recognize her outstanding contributions and celebrate her as a shining example of the excellence we strive for at Pacific Retail. Thank you, Laura, for your hard work and commitment to making Northpark a premier destination! #MarketerOfTheMonth #NorthparkMall #MarketingExcellence #PacificRetail #CommunityEngagement #BusinessDevelopment #CRE #RetailRealEstate #TeamRecognition
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Today The Shops at South Town celebrated their next chapter with a ground breaking ceremony with the center’s new owners Smith Entertainment Group (SEG). A direct result of PRCP’s expertise in unencumbering the land and maximizing entitlement rights, SEG will be able to begin construction work immediately, less than 2 weeks post sale. A huge congratulations to SEG on this exciting start. PRCP looks forward to working together to manage, lease and market the center and ensure continuity with the ownership transition and minimize disruption for consumers. “This transaction was a win for all parties involved,” said Steve Plenge, Chief Executive Officer of PRCP. “By strategically repositioning The Shops at South Town and preparing it for its next phase, we’ve not only secured a successful exit for our investors but also laid the groundwork for a transformative project that will benefit the Sandy and greater Salt Lake City communities while supporting Utah’s exciting entry into the NHL.” Marina Satoafaiga Bobbi Norton Kati Price Hannah King Michael Jorgenson Liz Russell Utah Hockey Club National Hockey League (NHL) Sandy City #NHL #UtahHockey #PRCP #AssetManagement #AssetDevelopment #SandyCity #Utah #ShopsatSouthTown #GroundBreaking #SEG
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PRCP announced the strategic sale of The Shops at South Town in Sandy City, Utah to Smith Entertainment Group (SEG), a sports, entertainment, real estate, and technology investment group. SEG plans to develop a state-of-the-art practice and training facility for their new National Hockey League (NHL) franchise, Utah Hockey Club, on the 111-acre site to create the ultimate mixed-use destination. Because of its proximity to downtown Salt Lake City and Interstate 15 as well as being a shovel ready site, a direct result of PRCP’s expertise in unencumbering the land and maximizing entitlement rights, SEG will be able to begin construction work immediately after closing. Oscar Parra, Chief Financial Officer of PRCP, shared further insights on the transaction: "Our approach at South Town exemplifies what we do best – we clear the path for an asset’s future highest and best use. At this specific site, we spent years methodically removing obstacles, updating old agreements, and setting the stage for modern, mixed-use development. When SEG and Woodley Real Estate came along, they found a site that was ready to go. This isn't just about selling property; it's about reimagining spaces for the future. We've seen firsthand how this approach can elevate a property's potential and value. In certain cases, we have seen malls in our portfolio jump from B+ to A- ratings just by reducing retail square footage and introducing mixed-use elements. This deal with SEG is a perfect example of how our approach can realize opportunities and create mutually beneficial solutions for asset owners, buyers and communities-at-large.” Read more in the article "Plan For Reviving Shopping Mall Is A Winner For Relocating NHL Team" in Forbes below. https://lnkd.in/ek5dEKvj Steve Plenge Donna Blair Najla Kayyem Marina Satoafaiga Kati Price Bobbi Norton Michael Jorgenson
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As we embark on the 40th Anniversary of Northpark we love reflecting on the impressive renovations the center underwent a few years back 🔨🔩. These changes have allowed Northpark to remain a beloved destination in City of Ridgeland blending modern style with community tradition. Here’s to 40 more years of connection and growth! #NorthparkThenAndNow #TransformationJourney #PacificRetail #CRE #CommunityHub #RetailEvolution #NorthparkHistory #PRCP #Redevelopment #RidgelandMS #AssetManagement
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In 2024, we've welcomed a variety of new stores across our centers, reflecting our strategic approach to leasing and enhancing the shopping experience for our communities. Our leasing strategy focuses on creating dynamic hubs by expanding key categories, introducing innovative concepts, and optimizing space use. We're proud to support local and national brands, ensuring a diverse and vibrant tenant mix. This year, our new stores bring fresh energy and unique offerings, enhancing the overall appeal of our centers. Stay tuned for more updates as we continue to transform our properties, evolving real estate for the next generation! #NewStores2024 #LeasingStrategy #CRE #RetailTransformation #InnovativeSpaces #RetailRealEstate #LeasingBroker #AssetManager #PRCP #ShoppingCenter #MixedUseAsset
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We are embarking upon repositioning two indoor centers including The Shops at Palm Desert and Bridgewater Commons, as highlighted in a recent article by The Real Deal. The plans to unencumber the land with new uses will transform the centers, creating dynamic and vibrant spaces to meet the evolving needs of the communities. Stay tuned as we make progress on these exciting projects and continue to create places that inspire and connect people. Read more about our plans and strategy for The Shops at Palm Desert and Bridgewater Commons below. ⬇ https://lnkd.in/egZYXjKK #PacificRetail #PRCP #PalmDesert #RetailReimagined #CRE #Innovation #CommunityEngagement #RetailTransformation #TheRealDeal #BridgewaterCommons #TheShopsatPalmDessert #NewJerseyDevelopments #Redevelopment Oscar Parra Steve Plenge
Pacific Retail to reposition indoor mall in Palm Desert
therealdeal.com