Shopping Center Acquisition Criteria
Concordia Realty Corporation seeks shopping center acquisitions anywhere in the Midwest and Northeast United States with a focus on the Great Lakes states.
Anchored community or neighborhood shopping centers.
100,000 – 400,000 square feet of gross leaseable area.
Multi-tenant including existing anchor stores (or facility which can accommodate). We like supermarkets, drug stores and discount stores/other major draws. We actively seek properties with low rent anchor tenant leases expiring.
Focus on Great Lakes states Midwest and Northeast United Stats, but will consider anywhere in the continental USA. We prefer SMSAs with minimum population of 200,000.
Minimum population of 50,000. We prefer major intersection of two thoroughfares but also like properties located close to retail concentrations.
Properties in which we can add value through leasing, remerchandising, renovation or repositioning.
Flexible and creative. We will purchase leveraged, joint venture, or other structure.
Acme Realty Investors requires the following for preliminary analysis.
- Leasing plan
- Rent roll
- Photos of property
- Demographic information
- Concordia Realty acquires shopping centers nationwide, preferring those with cash flow and upside potential through the aggressive implementation of a re-merchandising, renovation and development plan.
- The minimum shopping center size for consideration is 25,000 square feet in regions where Concordia Realty already owns properties (IL, IN, WI, MI) and 150,000 square feet in all other regions. There is no maximum limit on shopping center size.
- Concordia Realty looks for the value added play either through existing vacancy, anticipated vacancy, weak anchors, required reconfiguration or required capital to modernize the asset.
- The minimum population density within a 5 mile trade area must be 30,000, with a minimum median household income of $40,000.
- Concordia Realty will consider most types of environmental contamination.
- Brokers are registered by Concordia Realty in accordance with the Registration Policy.
- Leasing commissions are paid to brokers that procure tenant