Size: 27,057 s.f. retail center + two out-parcels 
Location: Buckhead (Atlanta), GA 
Configuration: Free-standing CVS plus two retail strips
Major Tenants: Chase Bank and McDonald’s on out-parcels 

Status at Purchase:

Date: June 29, 2012 
Occupancy: 85% / Majority of tenants with short-term leases. 
Purchase Price: $4,950,000 

Current Status: 

Date: As of June, 2013 100%
Occupancy/Lease Terms: Majority of tenants with long term leases. 
Purchase Price: $7,100,000 (under contract) 

Four-Part Business Plan: 

Extend Expiring Leases:
Renewed Kaufman Tire lease (65,000 s.f.) through Nov. 2028. 
Renewed CVS lease through Jan. 2019. 
Renegotiated McDonald’s outparcel lease thru 2033 in exchange for a 2nd drive thru. 

Lease-up vacant spaces:  
Leased vacant spaces (which had been vacant for over two years) through an aggressive leasing plan and increasing occupancy to 100%. 

Reduce Operating Expenses:
Renegotiated vendor contracts utilizing existing platform and key vendor relationships, reducing operating expenses over $20,000 during the first year.   

Increase NOI:  
NOI increased by approx. $90,000 ($460,000 to $550,000) during the first year. 

Status at Sale:

Date: October 2, 2014
Occupancy Lease Term:100% / Majority of tenants with long term leases.
 Purchase Price: $7,060,000

Investment Returns: 

Equity Invested: $2,450,000 

Forecast Investor Returns: 
10+% current cash-on-cash 
31+% IRR over 2.25 year hold 
Investment Multiple:  2.5