CLOSED INVESTMENT - SHOPPES AT TRICKUM
SHOPPES AT TRICKUM
Size: 49,900 s.f.
Location: Woodstock (Atlanta), GA
Description: Super Walmart Shadow-Anchored Shopping Center
Major Tenants: Dollar Tree, Shoe Show, Rue 21, Sally Beauty, H&R Block, Gamestop, LGE Credit Union, Cricket Wireless
Status at Purchase:
Date: February 10, 2016
Occupancy: 73%
Purchase Price: $6,000,000 ($120 psf / 6.9% cap rate)
Three-Part Business Plan:
Stabilize Tenancy:
Lease vacant spaces, negotiate lease extensions with tenants having upcoming renewals, and stabilize tenancy.
Reduce Operating Expenses:
Actively manage property utilizing SunCaps platform and key vendor relationships in order to reduce operating expenses.
Increase NOI:
Improve NOI by 60% over the five year holding period.
Status At Sale:
Date: October 4, 2018
Occupancy: 94%
Sale Price: $8,150,000
Actual Investment Returns:
Equity Invested: $2,111,000
Actual Investor Returns:
11.6+% current cash-on-cash
21+% IRR over five year hold
Investment Multiple: 1.6
