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Blackstone, ShopCore Partnership Divests Utah Retail Center

Red Rock Commons, a fully-occupied 134,152-square-foot retail center in Saint George, UT, sold for $33.2 million. The buyer was Irvine, CA-based Pacific Castle, while the seller was Blackstone-ShopCore.

The nearly 19-acre asset is located just off Interstate 15, at the northeast corner of S. River Road and E. 100 South. Built in 2011 and 2012 to institutional-quality standards, Red Rock Commons is situated on 19 acres and consists of four multi-tenant buildings and two freestanding pad buildings. Among the center’s tenants include Dick’s Sporting Goods, Old Navy, Petsmart, Ulta Salon and The Gap.

NKF’s Pete Bethea, Rob Ippolito and Glenn Rudy represented the seller. The buyer was self-represented.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.