Park Place mall is under new management.
Pacific Retail Capital Partners out of Los Angeles recently took over management of the property on Tucson’s east side; a mall with more than 1.1 million square feet of space, and six anchor businesses, including a theater, Round 1 gaming center, Ulta Beauty and Old Navy.
This will be PRCP’s first property under management in Arizona, according to a news release issued by the company. PRCP has more than $3 billion in assets under management across the country; that’s 24 properties totaling more than 20 million square feet of space.
We are proud to enter a fundamentally strong retail market in Tucson by adding Park Place to our portfolio,” Pacific Retail Capital Partners founder and CEO, Steve Plenge said in a press release. Park Place is a best-in-class shopping center and aligns with our strategy of entering high-growth markets. We are excited to apply our best-in-class management and leasing approach to energize this shopping center so that it operates more efficiently and better serves the needs of the Tucson community.
PRCP said that all employees with Park Mall will be staying on. The company also hired a leasing manager and marketing manager.