CostCo Plaza
Location: St. Louis, MO
Property Type: Retail
Investment Type: JV Equity
Investment Date: January 2022
Status: Unrealized
Costco Plaza
- Costco Plaza is a 237ksf, 23-acre retail center in Tempe, AZ, shadow-anchored by Costco.
- Acquired in January 2022 at 79% occupancy
- The property is anchored by a 103ksf ‘The Dump’ furniture store, and includes five single and multi-tenant individually parceled pad sites which were immediately spun off.
- The business plan includes: (a) spinning off the pads, (b) implementing a capital expenditure program to modernize the center, and (c) lease to stabilization.
