LOS ANGELES--(BUSINESS WIRE)--Pacific Retail Capital Partners (“PRCP” or the “Company”), one of the nation’s leading real estate investment, management and advisory firms focused exclusively on evolving retail real estate, is excited to announce the launch of an Architectural Design Studio and relocation of its corporate headquarters to Century City in Los Angeles. These strategic business developments serve to fuel PRCP’s continued growth while enhancing its value proposition through the expansion of its in-house capabilities.
PRCP has hired Annmarie Plenge, a former Principal at leading global architecture firm Gensler who co-led the Mixed Use & Retail Centers practice, to oversee the Architectural Design Studio. Plenge brings to PRCP more than 27 years of experience designing and transforming large-scale mixed-use developments. The Architectural Design Studio also includes two Vice Presidents, Ian Kim and Ryan Min, who previously worked with Plenge in Gensler’s Los Angeles office. Kim and Min have extensive experience designing mixed-use, retail and office projects. Similar to PRCP’s other business lines, the Architectural Design Studio provides advisory services.
Having in-house architectural design capabilities enables PRCP to accelerate the speed with which its master-planned projects are able to move from conceptualization to construction, benefiting investors, partners and local communities. PRCP is able to achieve this by exerting full control over the approval, design and construction processes – an outcome that is particularly important given the company’s growing project pipeline. Not relying on third parties creates efficiencies and helps eliminate delays that can stunt momentum and drive up project costs. Moreover, being able to work more closely with community leaders in the conceptualization and planning stages helps ensure PRCP delivers retail-led mixed-use destinations that align with a market’s needs and add sustained value to the trade area.
“I am thrilled to join a firm that’s leading the evolution of real estate for the next generation by transforming underutilized or obsolete retail space into mixed-use community-centric spaces that enrich lives and create value,” said Plenge. “The Architectural Design Studio is highly complementary to PRCP’s existing business lines, and its creation reflects the natural evolution of the enterprise. It is a powerful value proposition to be one of the only full-service firms in the country specializing in thoughtfully and responsibly repurposing retail real estate. With my background and expertise in mixed-use master planning, I am confident that PRCP’s architectural capabilities will match the quality of the rest of the services we offer and result in greater value for our different stakeholders.”
At Gensler, Plenge’s responsibilities included overseeing the design strategies and master planning efforts for some of the most complex, large-scale repositioning projects. Her extensive portfolio included community master plans, retail centers and mixed-use developments.
“Adding in-house architectural capabilities reflects the inflection point we’ve reached in our growth where these services are now essential to our efforts to redefine the future of retail real estate,” said Donna Blair, Chief Operating Officer at PRCP.
The Architectural Design Studio is housed in a dedicated space in PRCP’s new corporate headquarters located at 2029 Century Park East in Century City – the shopping, dining and entertainment epicenter of Los Angeles. The office focuses on shared experiences that bring people together and creates a sense of belonging, and features dedicated communal spaces where employees can gather and work collaboratively in an exciting environment. The modern feel and layout inspire creativity and ideation, while the warm tones and textures throughout provide a sense of comfort and ease. All furniture and fixtures were strategically selected to match the bold and authentic mission of the organization.
Century City represents a strategic location for PRCP to establish its home base, as it symbolizes the future of retail and reflects the type of environment the company seeks to create as part of its own redevelopment objectives. Century City features a dynamic blend of live, work and play, and an impressive Atrium space, which has been designed from the ground-up to accommodate concerts, food festivals, fashion shows, charity events, and movie premieres and film screenings. Given all it has to offer, PRCP selected the Atrium to host its national meeting on March 1-2, 2023.
Blair added, “As we outgrew our existing space, we wanted to make sure our next headquarters would more closely reflect the culture of our organization. Century City is illustrative of the kind of workplaces employees today expect to be part of. We anticipate our new home will act as a magnet for attracting top talent from all over the country.”
About Pacific Retail Capital Partners
Pacific Retail Capital Partners (PRCP) is one of the nation’s premier retail operating groups of large open- air and enclosed shopping centers, with more than $3.0 billion in retail assets presently under management in the United States. Based in Southern California, PRCP provides end-to-end sourcing, assessment, underwriting, valuing, developing, and asset management of retail real estate with a proven track record of repositioning properties.
PRCP strategically manages over 20+ million square feet of retail destinations. The executive team has over 225 years of collective real estate expertise in leasing, marketing, operations, design, development, management, investment, and finance. With a keen focus on enhancing the value and quality of its growing portfolio, PRCP is dedicated to creating a unique, strategic vision for each property and exceeding the highest expectations of retail investors, retailers, and consumers. To learn more visit pacificretail.com or follow social media at: Facebook: @PacificRetailCapitalPartners and Instagram: @PacificRetail.
