For more than 25 years, Zachary Sogoloff, Executive Vice President at Goodman Real Estate Services Group, has guided this property through leasing, acquisition, redevelopment, and disposition, creating value for multiple ownership groups along the way.
Th initial connection to Pearl Plaza began with the original ownership group, who developed the center around their Furniture Land concept. Over the years, Goodman has helped lease the property, bringing in tenants such as I-Style Furniture and Party Place all while navigating the challenges of an aging shopping center.
Later, Sogoloff represented Wald & Fisher, Inc. in acquiring the property. After years of working on the center, our team believed there was an opportunity to unlock greater value through redevelopment. The initial plan called for converting the main building to self-storage with Chipotle and Starbucks outlots. While the concept attracted tenant interest, the city encouraged us to pursue a different direction.
We went back to the drawing board and evaluated the site’s highest and best use. With strong traffic counts, dense population, solid household incomes, and frontage directly across from Southland Shopping Center, it became clear that the greatest opportunity was street front small shop space. Chipotle remained committed and became the anchor of a multi-tenant building. Citizens Bank replaced Starbucks; ALDI signed a ground lease, and the remaining shop space was successfully leased.
Once redevelopment was complete, Pearl Plaza was marketed and sold by our Director of Investment Sales, Kyle Hartung, through multiple transactions. At Goodman Real Estate Services Group, we believe in the power of long-term relationships, strategic thinking, and adaptability. We helped one client operate the center for years, another client acquire and transform it, and several national retailers expand in the market.
The best real estate stories aren’t just about buildings. They’re about creating value over time and helping clients achieve their goals at every stage of a property’s life cycle.