However, class A asset ownership is not exactly what PNL is inbusiness for. "PNL was established during the RTC days to purchasedistressed loans. That's their expertise," explains Jones LangLaSalle managing director John Alvarado, who is leading the teamthat is marketing the asset on Throckmorton St.
"Between 2005 and 2008, business really wasn't that fruitful forthem, because everything was going well," Alvarado tellsGlobeSt.com. As a result, PNL bought the asset because it provideda good value-add opportunity, as Radio Shack was about todepart.
Then the market fell apart. "Distressed loans have made acomeback, and PNL feels it's the right time to redeploy capitalinto that area of their business," Alvarado explains. There is nodefinite deadline for offers at this time.
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