Type

Multi-tenant unanchored retail/service strip centers situated in pedestrian-friendly in-town locations or high-traffic roadways. Leasable space should be shallow bays suitable for small tenancies and should have good visibility and access. Existing tenants might be convenience retail, service, or “medtail” uses with most/all tenants occupying less than 5,000 square feet each.

Geography

North Texas and the entire East Coast from South Carolina to Connecticut. Preference is given to opportunities near our existing footprints in DFW TX, Charleston SC, Charlotte NC, New Jersey, and Pennsylvania.

Shopping Centers

Value Add: We are generally seeking value-add or redevelopment opportunities. We are willing to accept extensive construction and/or leasing risk. “Value-Add” might be defined as full-scale renovation or redevelopment, but could also be a more modest scope such as pushing below-market rental rates. We will consider stabilized properties in our core markets, but are mainly focused on value-add.

Demographics: Urban or suburban locations are acceptable. We prefer established and/or upwardly mobile submarkets but will consider any properties that meet the property “Type”criteria above. No tertiary markets.

Transaction Size

$1,000,000 minimum to no maximum for portfolio opportunities.
Examples:
* High visibility strip center with deferred maintenance and/or occupancy < 80%.
* Entire block of downtown buildings suitable for redevelopment to retail or mixed-use retail/residential.
* Stabilized unanchored strip center of 50KSF maximum size, located in one of our core markets (see above).

Our Qualifications

Benbrooke was formed in the early 1990s and since that time has owned and operated more than 4 million square feet of commercial properties.