PMAT Acquires Valley Ranch Centre

The PMAT Cos. has acquired Valley Ranch Centre, a 111,000-square-foot shopping center at 820 S MacArthur Blvd., in Coppell, Texas—just 18 miles north of downtown Dallas.  New long-term leases with Club 4 Fitness and Dollar Tree serve as anchors to this neighborhood center, which was 75% leased at the time of sale. PMAT plans to implement an intensive lease-up program to renovate and fully stabilize this center. Within months of closing, AutoZone executed the first new lease for a 7,000-square-foot endcap space. This quick addition of another national credit co-anchor to the tenant mix is the first step of PMAT's value-add business plan to stabilize another underperforming but fundamentally sound anchored Select Open Air Retail (SOAR) center. For leasing info, please contact leasing@pmat.com.

PMAT is a real estate development and investment firm focused on value-add Select Open Air Retail (SOAR) investments across the Southeast, Sunbelt, and Midwest regions. The initial PMAT platform was founded by ICSC Trustee Robert A. Whelan in 2003 and the team has since acquired and renovated nearly 50 primarily grocery-anchored shopping centers with an aggregate transaction value of over $1 billion consisting of approximately 10 million square feet in total. PMAT's proven investment strategy is to acquire value-add Select Open Air Retail (SOAR) anchored by grocery, discount, off-price and necessity tenants and to create long-term value through redevelopment, renovation, and re-tenanting of these fundamentally strong assets.

For more information on PMAT please visit www.pmat.com.

Source: PMAT

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Categories: Real Estate Investments

Tags: Investment, PMAT, Real Estate