110,000 square foot power retail center in Tolleson, AZ
Appointed as Receiver on a $35M loan for an 110,000 square foot power retail center in Tolleson, AZ. Resolute Commercial acted as both the Receiver and Property Manager for the asset.
During an 8-month appointment, Resolute quickly stabilized the financial position of the asset and worked to reassure restless tenants about the future path of the property. Resolute’s property management of the asset resulted in the correction of existing lease deficiencies, reduction of operating expenses and elimination of graffiti and vandalism. Additionally, our proactive marketing efforts repositioned the property within the submarket and led to an overall increase in leasing activity and occupancy.
Resolute successfully stabilized and positioned the asset for the Lender to transition onto its balance sheet.