Laguna Village

• 131,117 square foot community shopping center.
• Located at Ray Road and Kyrene Road in the affluent and densely-populated Chandler submarket of Phoenix, AZ.
• Acquired in January 2016 at 62% occupancy.
• Business plan to complete cosmetic upgrades to lease up the anchor and inline vacancies, and selectively sell individual retail parcels.

Investment Highlights

• Sold the Walgreens parcel within three months of taking ownership.
• Leased the former Fresh & Easy junior anchor space to Natural Grocers, and sold within six months of ownership.
• Increased occupancy to 89%, including leasing the former anchor movie theater to one of the largest and most creditworthy churches in the U.S.
• Sold property December 2018 at 93% occupancy.