Newmark Grubb ACRES Asset Services Adds Retail Power Center to Their Property Management Portfolio.
Newmark Grubb ACRES Asset Services is pleased to announce that it has signed a agreement to provide the company’s best-in-class property management services for The Family Center at Riverdale. This 427,805-square-foot property is located at 1038 West Riverdale Road in Riverdale, Utah and includes such anchor tenants as SuperTarget, Gordman’s, Sportsman’s Warehouse, Best Buy and PetSmart The property is owned by Cole Credit Property Trust IV, Inc., one of American Realty Capital Property, Inc.’s managed real estate funds.
With this latest assignment, Newmark’s total square footage managed increases to over 10,000,000.
Regarding the announcement, Newmark Grubb ACRES’ Executive Vice President Gary Coker said, “We are excited to add such a prominent power center to our management portfolio and look forward to working with such a prestigious client to ensure that the asset meets the company’s operational objectives.”