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Pacific Retail Takes Over Southgate Market
Pacific Retail Capital Partners, a property owner/operator and developer based in El Segundo, CA, has taken over as operator and manager for Southgate Market in the South Loop. Deal terms weren’t disclosed.
Located at 1101 S. Canal St., the center includes Whole Foods Market, PetSmart, Marshalls, LA Fitness, Starbucks, Michaels, Panera and DSW, along with professional medical offices of the award-winning University of Chicago Medicine.
Southgate Market serves the residential neighborhoods of the South Loop, Little Italy and University Village, and has also seen a rising daytime population. It’s positioned near the Old Main Post Office, which is in the midst of a large-scale, 2.5-million-square-foot redevelopment.
“Southgate Market is a key addition to Pacific Retail’s growing portfolio of significant retail centers across the country,” said Gary Karl, Pacific Retail’s COO. “The transition in management will be seamless and our initial goal is to enhance the experience for the shopper.”
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