Acquisition Strategy

We focus on service oriented uses that tend to fare well against ecommerce.

The assets we target deliver spaces we know we can lease in a timely manner. We generally avoid vacant big boxes that take tons of time and capital to lease unless the basis is so low that the deal makes sense if it were to never lease.

The Largest Capital Expenditure risks are the roof and foundation, which we inspect diligently during our acquisition process. Exterior improvements are repeatable and Tenant Improvements are generally consistent with the market which we understand prior to acquiring the asset.

We buy assets that deliver a clear path to upside in efforts of delivering our partners outsized returns while mitigating downsize risk. A clear path to upside to us generally looks like a cap ex plan, lease up plan, and or management execution plan.

As Strip Mall Trent once said “A lot of our memories growing up involve a strip mall. My mom meets her friends at the nail salon, it’s someone’s birthday, we go get pizza. Everyone has their favorite local restaurant. You grow up spending time at the strip mall, whether or not you realize it. It’s part of our human experience.”

We seek to find inefficiencies in Assets, whether that be gross leases rather than NNN, mismanagement, deferred maintenance, under market rents, vacancy, etc. We often find said inefficiencies are much more prominent in the deal size we play in, rather than the institutional deals where the operators tend to know what they’re doing, generally leaving a lot less “meat on the bone”.

We spend an extensive amount of time fostering relationships with Brokers that are active in our product type, in addition to a direct to seller approach.

We pride ourselves on our ability to tightly manage an asset while creating long term Tenant relationships which ultimately leads to compressed expenses and increased NOI.

We turn over every rock possible. With each asset, we create a leasing plan. If we are targeting local tenants, we will literally walk into and call every single user in and around the market to see if they’d be interested in opening an additional location(s). When we are targeting regional and national tenants, we use our proprietary system to contact all the potential users. In short, we don’t simply post listings on the marketing mediums and sit back and wait for leads, we create our own interest.

Whether it is for aesthetics or deferred maintenance, we implement capital improvement plans for every asset we acquire. Simple things like exterior paint and parking lot stripe and seals deliver a huge ROI. Managing construction isn’t easy, but in our office we say “Inspect what you expect” and we ensure the contractors are performing work on time and on budget.

Most of our assets are too small for institutional investors, however, as a portfolio they provide the size and scale needed for an institutional level sale or refinance.