TNP Buys Retail Center, Expands Management

IRVINE, CA-TNP Strategic Retail Trust has been active in the acquisitions department and also in hiring. The company has acquired the 50,359-square-foot Topaz Marketplace in the Inland Empire city of Hesperia, the non-traded REIT’s ninth acquisition, and has added new management including regional vice president Anthony Bott and SVP Don Ferrari.

Stephen Corea, Thompson National Properties SVP of acquisitions, describes Topaz Marketplace as the premier retail center along the Main Street corridor of Hesperia, with a diverse tenant base, including grocery, medical, educational and service uses. “Topaz Marketplace enjoys favorable positioning along the border of a large residential consumer base. In addition, the property is on the ‘Go Home’ south side of Main Street, providing convenient access to customers,” Corea said.