During the past ten years, in addition to its new development projects, PRA has utilized a staff of employees, highly experienced in redevelopment and asset management skills, to successfully implement an alternative program to acquire and re-position a substantial number of underperforming/distressed assets.  In each case, PRA first completed its due diligence studies to determine the specific requirements for a successful re-positioning strategy.  These included:  rezoning, demolition and redevelopment into alternative uses, etc.  The following are examples of several of these projects:

1. Westwood Mall:  Houston, Texas – A regional mall converted into 500,000 s.f. of office and technological floor area.
2. Web @ LBJ:  Dallas, Texas – A regional mall converted into over 300,000 s.f. of mixed use fiber optic floor area; as well as other adjacent retail and restaurant uses.
3. Provident Crossing:  San Antonio, Texas – Forty acres, comprised of multiple industrial facilities, demolished and re-positioned into a 400,000 s.f. retail power center anchored by Walmart and Lowe’s.
4. Centerville Marketplace:  Garland, Texas – Assembly of forty five acres on three tracts;  rezoned, demolished 950 apartments, an office building and a hotel, and re-positioned as a 400,000 s.f. power center anchored by Walmart.
5. !25:  Albuquerque, New Mexico – Conversion of an existing industrial facility into over 250,000 s.f. of office and technological floor area, as well as new retail, restaurant and hotel uses.
6. The Glen:  A 42 acre tract, containing 900 apartments and support commercial floor area; rezoned, demolished and in final planning to be re-positioned as a mixed use development, containing 1200 residential units and 300,000 s.f. of office and retail floor area.