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PREP Property Group Acquires Promenade at Casa Grande in Growing Phoenix-Tucson Corridor

By GlobeNewswire

PARK CITY, Utah, Nov. 09, 2026 (GLOBE NEWSWIRE) -- PREP Property Group Inc. ("PREP"), an operator-led retail real estate investment company focused on creating value through strategic acquisitions and active asset management, is pleased to announce the acquisition of Promenade at Casa Grande, a premier regional shopping center located in Casa Grande, Arizona.

The approximately 480,000-square-foot regional shopping center is strategically positioned at the northeast corner of Interstate 10 and Florence Boulevard, along the rapidly growing Phoenix-Tucson corridor. Serving as a primary retail destination for Pinal County and the surrounding trade area, Promenade at Casa Grande features a diverse mix of nationally recognized retailers and entertainment destinations, including Harkins Theatres, Ross Dress for Less, Marshalls, HomeGoods, Burlington, Michaels, Ashley Furniture, PetSmart, Five Below, Bath & Body Works, Shoe Dept. Encore, Ulta Beauty, and Dollar Tree, complemented by a strong collection of additional national and regional tenants.

"PREP is excited to add Promenade at Casa Grande to our growing portfolio," said Lloyd Sova, Vice President of Development & Acquisitions at PREP Property Group. "The center benefits from an exceptional location within one of Arizona's fastest-growing markets and serves as an important retail destination for the surrounding community. As Casa Grande continues to experience significant population and economic growth, we see substantial opportunities to leverage PREP's leasing, merchandising, operational, and redevelopment expertise to enhance the property's performance and unlock additional long-term value."

PREP invests in open-air, grocery-anchored, and net lease retail assets with strong real estate fundamentals and opportunities for value creation. Through disciplined acquisitions, active leasing, redevelopment, and operational expertise, PREP enhances asset performance and creates long-term value across its portfolio.

About PREP Property Group (PREP)

PREP Property Group is an operator-led retail real estate investment company founded by Michael C. Phillips, founder and former CEO of Phillips Edison & Company. PREP specializes in open-air, grocery anchored, and net lease retail assets with strong fundamentals and creates value through active leasing, strategic merchandising, redevelopment, and day-to-day operations. Supported by an experienced team with expertise in acquisitions, leasing, construction, property management, asset management, and capital markets, PREP leverages deep retailer relationships, extensive market knowledge, and a disciplined, operator-led approach to enhance retail assets and create long-term value for investors, tenants, and the communities it serves. To learn more about PREP Property Group, please visit our website at www.prep-retail.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/adef8ddf-cbdf-44a7-b4be-7a0bac644dea


MEDIA CONTACTMichelle Devlin513-824-7135michelle.devlin@preppg.com

Promenade at Casa Grande

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