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Baceline Acquires Retail Centers in Three States
Baceline Investments, LLC, acquired three retail properties near Cleveland, Chicago and Minneapolis for an undisclosed sum. It marks a return to buying for the Denver-based firm after concentrating efforts the past six months on supporting its tenants during the COVID-19 pandemic.
The acquisitions include Trask Towers (16,195 square feet, Mentor, OH), Baceline’s first property in the Cleveland metro area; Foxmoor Crossing (22,408 square feet, Fox River Grove, IL), a high-volume, heavily trafficked retail center northwest of Chicago; and Hanson Commons I (12,708 square feet, Andover, MN), a location with diverse tenants that has proven resilient during the pandemic.
When the pandemic took hold in March, “we immediately shifted our focus into support mode” for Baceline’s retail tenants, said Dusty Batsell, EVP of real estate. “While our commitment to ensure their success continues, we are once again targeting and evaluating properties for the portfolio, identifying those in thriving communities.”
Photo courtesy of Foxmoor Crossing.
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