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Casa Grande, Ariz. — PREP Property Group has acquired Promenade at Casa Grande, a 470,000-square-foot regional power center located in Casa Grande, roughly 45 miles south of Phoenix, for $63.1 million. Tenants at the center include Harkins Theatres, Ross Dress for Less, Marshalls, HomeGoods, Burlington, Michaels, Ashley Furniture, PetSmart, Five Below, Bath & Body Works, Shoe Dept., Encore, Ulta Beauty and Dollar Tree. Three anchors — Dillard’s, JCPenney and Target — were not included in the sale.
Colliers represented the seller, Lamar Cos. and Promenade CG Holdings LLC, in the transaction.