DENVER--(BUSINESS WIRE)--Baceline Investments, LLC, a boutique private equity real estate investment and management company with retail holdings throughout the Central United States, has announced the acquisition of Clinton Towne Center in Clinton, Utah, a 34,200-square-foot neighborhood shopping center north of Salt Lake City. It is the first retail center in the company’s new High Yield Income Fund portfolio.
Located at 2122 W. 1800 North in the main hub of Clinton, Syracuse and Roy, the multi-tenant property is anchored by Macey’s Grocery Store and consists of three buildings: two strips and one outlot. Currently 86 percent occupied, key tenants include Dollar Tree, Great Clips, UPS and GNC. Surrounding retailers include Lowes, Kohl’s, Walgreens and a Walmart Supercenter. Nearby Hill Air Force Base is the state’s largest employer with a workforce of more than 17,000.
“Clinton Towne Center is a value-rich, cash flowing neighborhood shopping center in a highly active retail market,” said David Puchi, Baceline’s managing partner. “As the first property in our High Yield Income Fund, Clinton Towne Center will be a strong income producer. Our Heartland, Middle-America approach continues to uncover real estate opportunities that benefit our investors by providing high levels of stable and immediately distributable income. This acquisition expands our real estate footprint into Utah, an undervalued market that makes it an ideal investment.”
Baceline’s High Yield Income Fund is designed for investors who seek to earn consistent and higher levels of income from their investment portfolio.
About Baceline Investments
Founded in 2003, Baceline Investments, LLC is a Denver-based privately held boutique real estate investment and management company that specializes in the acquisition, management, and sale of cash-flowing, necessity-based neighborhood shopping centers located in select secondary markets across America's Heartland. By avoiding high-priced and competitive commercial real estate markets on the coasts, Baceline’s Heartland focus provides untapped investment opportunity. This unique geographic focus allows investors to better diversify their investment portfolio. Learn more about Baceline Investments at www.bacelineinvestments.com or LinkedIn.