FOR IMMEDIATE RELEASE
TUESDAY, FEBRUARY 10, 2015
Contact: Jennifer Parks
Rose+Moser+Allyn Public and Online Relations
Michael Pollack Hits the Ground in 2015 with Big Plans, New Shopping Center Purchases and One of His Best Shopping Center Transformations Ever
(MESA, Ariz. ) – When Real Estate Entrepreneur Michael Pollack purchases a run-down shopping center and commits to a new project, you can be sure of one thing – a dramatic restoration is on the horizon. It is at the core of what Pollack and his Mesa based Pollack Investments have been doing in shopping centers across California, Nevada and Arizona for the past 40 years.
In the first month of 2015, Pollack is full-speed ahead on more projects. The first involves the purchase of several buildings, including the shop space that is attached to a Food City Grocery at the northeast corner of Mesa Drive and Southern in Mesa. Pollack, who paid $1.1 million for 20,000 square feet of retail space, plans an exciting renovation and repositioning of the property.
“This is a center that has long been neglected and is in need of some serious attention and a complete overhaul of the space,” said Pollack. “I hope to make this Food City Anchored Shopping Center at Mesa Drive and Southern something that not only the tenants, customers and neighbors can be proud of, but the entire city can enjoy for years to come.”
Across town in Gilbert — Pollack is also deeply involved in what may be one of his most dramatic retail transformations to date at the southeast corner of Ray and Gilbert Road. In the spring of 2013 Pollack purchased the 12,500-square-foot rundown strip mall that housed a fiberglass horse on the roof of the plaza.
“I can remember looking at that horse when I first rolled into town 24 years ago,” said Pollack. “It has been an architectural challenge. We are taking something that was totally antiquated and ugly. “My goal is to reposition the center and reconfigure it to look like something you would see at Disneyland. We have even found a special place to incorporate the original fiberglass horse into the new western setting.”
As part of the repositioning of the Gilbert and Ray project, Pollack totally renovated the large adjoining restaurant space and brought a new tenant, JC’s Steakhouse to the center. With the center at 100% occupancy, construction will continue with minimal disruption to the tenants.
“This is a real-life example of what can be done with a rundown center. I have taken one of the worst looking, most run-down shopping centers in Gilbert and will be turning it into the best looking center around,” said Pollack.
Pollack is also proud to announce the purchase of a free standing building in front of his Alma School Villages Shoppes project located between Elliot and Warner on Alma School Road. Pollack has grown the shopping center from 20,000 to 56,000 over the last decade and saw the opportunity to improve another building.
“The opportunity came up to buy this free standing building that fronts on Alma School Rd. in Chandler and has housed Oasis Bedrooms for many years,” said Pollack. “So we are pleased to take on another renovation and look to fill this 8,256 square foot space when the tenant moves out in about 120 days.”
But that’s not it for the real estate entrepreneur, in 2015 Pollack is also re-investing in the northeast corner of Alma School Rd. and Elliot Rd. in Chandler where he has brought the physical occupancy rates of the center to over 95% from a low of just 50% during the “Great Recession of 2009 to 2012.
The newest tenant at the Chandler location, AZ Elite Youth Sports and Gym will be where families can strengthen their bodies and strengthen their bonds together. AZ Elite is a premier fitness club for adults, teens and children alike, inclusive of a state-of-the-art gym, swim school, gymnastics program, batting cage and training center. The 42,000-sqaure-foot facility offers an array of adult fitness classes, as well as athletic training programs for children and teens in swimming, gymnastics, dance and more. Additionally, they will bring the family together in monthly fitness special events.
While the kids are immersed in their activities and classes, parents can work out in the gym, take their own class or relax at the same fitness club facility. When children aren’t scheduled for a class that day, their childcare center will keep kids happy and entertained while parents get in their workout. AZ Elite also offer a spa complex that includes massage therapy, skin care treatments, tanning and spray tanning options.
“We are so excited about AZ Elite Youth Sports and Gym Center being a part of our Chandler center. We feel that they can turn this into a center where families can come and have fun and exercise together.” Pollack concluded.
Pollack is also excited to welcome Zia Records to the center. “We just recently celebrated the grand opening of Zia Records and we’re excited to welcome one of my all-time favorite record stores,” said Pollack.
Pollack says hopes to announce more renovations, including another significant sale over the next 90 days.
To get more information about Pollack Investments or to arrange an interview with Michael Pollack, call Jennifer Parks at 480.495.3806 or email Jparks@RoseMoserAllynPR.com.
About Michael A. Pollack Real Estate Investments
Michael A. Pollack has been in the real estate business for more than 40 years. To date Pollack has redeveloped more than 11 million square feet with a total value well in excess of $1 billion. He has been an institution in the Phoenix commercial real estate market for more than 22 years. Specializing in refurbishing commercial and industrial properties, Michael A. Pollack is one of Arizona’s largest privately held shopping center owners and operators. Michael’s desire to build pride back into run down communities is a catalyst for many of his real estate ventures with the goal of making our Arizona cities better one project at a time.
In these constantly changing times it is easy to see why so many property owners, lending institutions and tenants are interested in teaming up with Michael A. Pollack Real Estate Investments, the leader in commercial and industrial real estate redevelopment in the Phoenix Metropolitan area.
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