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