Baceline Investments has acquired two neighborhood shopping centers: Brown Road Marketplace located in suburban Phoenix for $2.6 million; and Memphis-based Cross Rhodes for $2.5 million.
DENVER (Nov. 16, 2016) – Baceline Investments, LLC, a boutique private equity real estate investment and management company with retail holdings throughout the Central United States, announced today the acquisition of two neighborhood shopping centers totaling 75,000 square feet. Baceline has purchased Brown Road Marketplace, located in suburban Phoenix, for $2.6 million, and Cross Rhodes in Memphis for $2.5 million.
Brown Road Marketplace, located at the intersection of Brown Road and Mesa Drive in Mesa, Ariz., is a 37,117-square-foot neighborhood shopping center anchored by Dollar General and Native Grill & Wings. Built in 1990, the retail center was recently remodeled and is situated in a high-traffic area densely populated with nearly 40,000 residents within three miles.
Cross Rhodes is a 37,595-square-foot shopping center located at 1217 Getwell Road in Memphis. It is anchored by national tenants O’Reilly Auto Parts and Family Dollar. Cross Rhodes sits adjacent to the University of Memphis campus.
“With a focus on investing in and strengthening communities throughout America’s midsection, we are excited about the additions of Brown Road Marketplace and Cross Rhodes to our portfolio,” said David Puchi, managing partner of Baceline Investments. “Both retail centers are ideal holdings because they are located in vibrant neighborhoods and also meet a strategic criteria centered on producing income for our investors.”
Identifying properties that have significant opportunity through growth and revitalization, coupled with Baceline’s geographical focus, the firm acquires real estate at favorable pricing. Baceline’s funds are designed to benefit investors who seek to earn consistent and higher levels of distributable income from their investment 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 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.