We develop our own retail properties from the ground up, and also acquire existing retail properties that we lease and manage. We can engage as the fee purchaser or the project developer.
Retail Property Development
With 30 years of successful retail development experience in the southeastern U.S., we can reliably identify the key elements necessary for a property to perform exceptionally well. We have the expertise and market knowledge that consistently produces predictably high performance facilities, meeting or exceeding the expectations of our clients, partners and tenants.
Something else that sets us apart is our experience dealing with complex development issues. We’ve negotiated permits, proffers, and even relocation of a state highway. We’re also well versed in transportation impact analysis, environmental mitigation issues, and working with local and state agencies to ensure that a project stays on track. Having experience on your side with regard to these issues means fewer surprises and fewer delays. We’re proud to say our projects always finish on time—we’ve never missed a deadline for an opening.
Retail Property Acquisition—what we look for:
- Property type: We focus on unanchored strip centers that contain at least four tenant spaces. The property must be well positioned with good access, visibility and frontage along a major retail corridor, and be located in a healthy demographic market or submarket.
- Location: Our projects and properties are concentrated in Virginia, North Carolina, South Carolina and Georgia. We are also interested in projects and properties in Tennessee and Florida.
- Market: We limit our markets or submarkets to effective service areas that contain a minimum of 125,000 people.
- Financing: Our terms are all cash at closing, or loan assumption if debt is at or below the current market rate and has a principal balance of more than 60 percent of the purchase price.
Contact us if you are interested in developing or selling a commercial retail property. We’re happy to provide a free consultation.
