Baceline Sells Dixie Valley Center to Inland

LOUISVILLE—The severe recession created a number of opportunities for investors willing to take a few risks. Baceline Investments, LLC, for example, just completed the sale of Dixie Valley Shopping Center in Louisville to Inland for $13.6 million, a big boost over the $3.3 million it paid for it back in 2010. The 119,364-square-foot center was in foreclosure then and only 34% leased. Under Baceline’s ownership, occupancy of the shopping center increased to 92%. The firm also just acquired Overlook on North Ave., a neighborhood shopping center in suburban Chicago.

“The revitalization of Dixie Valley Shopping Center is a success story on many levels,” says David Puchi, managing partner of the Denver-based Baceline. “Four years ago Dixie Valley was in a state of deterioration, in foreclosure, and declining occupancy. After much time, effort and investment, Baceline transformed the downtrodden property into a quality asset making it a vibrant location for the community.”