Tryperion acquired Costco Plaza, a 237,000 SF, 23-acre retail center in the Phoenix MSA shadow-anchored by Costco, at 79% occupancy. The business plan included selling off pads, implementing a capital expenditure program to modernize the center, and leasing to stabilization.

Tryperion acquired the 62% occupied, 131,000 SF shopping center in the affluent and densely populated Chandler submarket. We completed cosmetic upgrades to lease up the anchor and inline vacancies and selectively sold individual retail pads.