IRA Capital Acquires Upland Town Center for $23.75M
IRA Capital is pleased to announce the acquisition of Upland Town Square, a 104,000 SF Sprout’s anchored shopping center in Upland, CA. The property was acquired through a joint-venture with Artemis Real Estate Partners for a purchase price of $23.75 million. The center was 73.5% leased at acquisition. IRA Capital’s value enhancement strategy includes lease-up and redevelopment of some of the existing shop space. National tenants include Sprouts Farmers Market, O’Reilly Auto Parts, JimmyJohn’s, Denny’s, H&RBlock, Cherry on Top, and Waba Grill, amongothers. Neighboring tenants include Vons, Stater Bros., 24 Hour Fitness and Walgreens. The population density is approximately 380,000 within 5miles. Traffic counts are in excess of 35,000 on Foothill/SanAntonio.IRA Capital is a real estate private equity company focused on creating and maximizing value through the strategic acquisition and management of assets. IRA Capital has acquired approximately $600 million of commercial real estate throughout the country over the past four years. The principals of IRA Capital have more than six decades of combined real estate experience and have transacted on over $3.5 billion across a range of asset classes and geographic markets, with a proven track record of profitability. IRA Capital is aggressively looking for investment opportunities.
Please submit all opportunities for consideration to: acquisitions@iraCapital.com
Amer F. Kasm Samir M. Patel Jay H. Gangwal Mohannad S. Malas
(949)258-7402 (949)258-7403 (949)258-7404 (949)258-7412
akasm@iraCapital.com spatel@iraCapital.com jgangwal@iraCapital.com mmalas@iraCapital.com