TUSCANY SQUARE

The Property

  • Purchased for $19,300,000 in November of 2016.

  • 72,000 square foot shopping center, including a Walgreen’s on a long-term lease.

  • Negotiated a complex off-market transaction.

  • 74% leased at purchase, including a vacant anchor box.

 

The Results

  • In less than 2 years, signed leases to bring the occupancy to over 95%,

  • Increasing the NOI by 28%

  • Executing a parcelization strategy to sell the Walgreen’s

  • Stabilizing remaining asset to a 10% capitalization on costs