Industry

Real Estate

Company Type

LLC

Size

$100 Million

Investment Type

Equity

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Overview

Focus on the acquisition, financing, asset management, property management, leasing, development, renovation, and disposition of grocery anchored shopping centers in suburban and secondary markets


Seeking $100 million to purchase and aggregate a portfolio of grocery anchored properties with $300 million in enterprise value


The acquisition consists of 20-30 retail assets over a 2-3 year span in the Mid-Atlantic, Southeast, Southwest, Midwest, and West regions of the United States (exclusive of the Pacific Northwest)


Grocery-anchored centers have been valued at a premium relative to power centers while providing steadier operating performance throughout the pandemic


The management team has over 120 years of combined experience in private and public commercial real estate. 

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Opportunity

 

 

 

 

 

 

 

 

 

 

Grocery-anchored centers have been valued at a premium relative to power centers while providing steadier operating performance throughout the pandemic. Necessity based asset that may serve as a hedge against inflation

 

 

Shift from traditional brick-and-mortar shops to hybrid distribution centers in last-mile delivery networks. Achieved through high margin delivery services such as in-store pickup, curbside pickup, and delivery from store 

 

 

Rental occupancy rates have been trending upward and reached 93.6% in 2022, the highest since 2015, while leasing volumes and rental rates have picked up since early 2021 ​

 

 

Shopping center REITs have resulted in total returns of more than 65% in 2021​

Solution/Strategy

The company leverages a strong relationship with retailers and history of investing in shopping centers to identify primarily grocery-anchored real estate assets


Acquisition criteria: average size of 100,000 SF; purchase price of $15 million


Looking for locations situated within 50-75 miles of top Metropolitan Statistical Area (MSA’s) and in communities with higher-than-average household incomes


Seeks grocers that are the top one or two performing grocers in a 3–5-mile trade area which is densely populated and has high barriers to entry (Kroger, Publix, Lowes Foods, etc…)


Will implement strategic asset management plans and proactive tenant relationships to increase revenues.

 

Learn More About This Transaction

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CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

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