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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