Pacific Retail Capital Partners to now operate Independence Cent - KCTV5

Pacific Retail Capital Partners to now operate Independence Center

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File photo. (KCTV) File photo. (KCTV)

Pacific Retail Capital Partners announced on Friday that it will step in as the operator of Independence Center.

The California-based group said they have "immediate plans to reinvest in the community of Independence by reinvigorating the center."

“We plan to reinvigorate Independence Center,” said Najla Kayyem, senior vice president of marketing for Pacific Retail Capital Partners. “We have a reputation for improving assets and creating a unique strategic vision for each property we manage. We plan to bring back community engagement events and focus on leasing and localization to increase occupancy and attract the best mix of tenants to the space.”

Independence Center has struggled in recent years. The center is anchored by Dillard’s, Macy’s, Sears and Dicks Sporting Goods and features an H&M clothing store that was added last year, plus another 120 stores.

More coverage: Independence Center to enter foreclosure sale on Friday

“The current tenants of Independence Center can rest assured that we are committed to the success of this property,” said Gary Karl, chief operating officer of Pacific Retail Capital Partners. “We will apply our experience and will work with our leasing partners, to improve on the property’s retail and restaurant mix to ensure the center best serves the local market.”

"First steps include hiring additional full-time staff, coordinating a robust event calendar with community partners and enhancing the specialty leasing program," the group said in a release. 

"Pacific Retail Capital Partners is one of the nation’s premier retail operating groups of large open-air centers and enclosed malls, with more than $1.8 billion in retail assets presently under management in the United States," the release said. "PRCP strategically manages over 11 million square feet of regional malls and open-air lifestyle centers. The Executive team has over 150 years of collective real estate expertise."

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