Baceline Investments Grows Retail Portfolio

The firm purchased four shopping centers located in Wisconsin, Texas, Tennessee and Utah, spending a total of $18 million on 131,000 square feet of leasable space.
Aerial view of Edge O Lake Shoppes
Aerial view of Edge O Lake Shoppes

Baceline Investments has acquired four shopping centers, bringing its portfolio to a total of 54 properties, or 2.6 million square feet. The company purchased Capitol Drive Shopping Center in Brookfield, Wis., North Town Center in Fort Worth, Texas, Edge O Lake Shoppes in Nashville, Tenn., and Antelope Plaza in Clearfield, Utah. 

The assets, comprising 131,000 square feet of leasable space, traded for a total of $18 million: 

  • Capitol Drive Shopping Center (35,015 square feet) – $4.3 million
  • North Town Center (41,070 square feet) – $5.8 million
  • Edge O Lake Shoppes (35,544 square feet) – $6.6 million
  • Antelope Plaza (19,904 square feet) – $1.4 million

“All four acquisitions align well with our overall investment strategy,” said David Puchi, managing partner at Baceline, in a prepared statement. “The criteria being neighborhood shopping centers that provide everyday goods and services, internet-resistant tenants and a geographical focus in America’s heartland.”

In January, the company purchased the $6.3 million Piper Plaza in Kansas City, Kan., a shopping center previously owned by McCownGordon Construction. The acquisition was partially funded by the sale of the firm’s Madison & Edgewood Shoppes in Indianapolis for $4.3 million.

Image via Google Maps