Pacific Retail Capital Partners sells The Shops at South Town in Utah

Pacific Retail Capital Partners (PRCP) announced the strategic sale of The Shops at South Town in Sandy, Utah, to Smith Entertainment Group (SEG), a sports, entertainment, real estate and technology investment group. SEG plans to develop a state-of-the-art practice and training facility for the new National Hockey League (NHL) franchise, Utah Hockey Club, on the 111-acre site to create the ultimate mixed-use destination.

SEG will be able to begin construction work immediately after closing. PRCP has successfully executed this strategy at other properties in its portfolio, including at Yorktown Center in Lombard, Ill., where the company obtained development rights on a vacant parcel of land adjacent to the mall that it then sold to D.R. Horton.

“This transaction was a win for all parties involved,” said Steve Plenge, CEO at PRCP. “By strategically repositioning The Shops at South Town and preparing it for its next phase, we’ve not only secured a successful exit