Brand Street acquires retail and mixed-use properties in high barrier to entry, in-fill locations throughout the United States.
Investment profiles include opportunistic, value-add, and core-plus transactions, with an emphasis on maximizing value and risk-adjusted returns.
Brand Street targets investments that possess value creation opportunities, leveraging the company’s full-service platform to efficiently operate and reposition underperforming and distressed assets.
A 120,000 SF, Whole Foods anchored shopping center located in a suburb 10 miles north of Center City Philadelphia. The property benefits from a strong roster of tenants accompanying Whole Foods including Planet Fitness, Panera, Citizens Bank, Club Pilates, Athleta, Cookie Crumbl, Carbon Health and Lenscrafters, along with 16,000 SF of 2nd floor medical office space.
The property was acquired at the end of 2019, from global investment management firm, Barings. Initial occupancy was approximately 88%, and most of the in-line tenancy was comprised of local “mom & pop” merchants paying below market rents. Despite an incredibly strong anchor in Whole Foods, historical ownership had failed to capture several value creation opportunities due to a passive management and leasing strategy.
Since acquiring the asset, the property has reached 100% occupancy and NOI has increased by 35%.
Initial JV co-investment with Inland Institutional Capital.
Recapitalized with current JV co-investment partner, Regency Centers.
A 275,000 SF, Shaw’s anchored shopping center located along Route 9, the primary retail corridor in Central Massachusetts. Other key tenants include Planet Fitness, Petco, Red Wing Shoes, Party City, The Paper Store, Ideal Image, Five Guys, Elements, Jimmy’s Tavern, Bridgestone Autocare, and Santander Bank.
The well-established but neglected asset had been operated by the property’s original developer for 40 years prior to our acquisition in 2011. We subsequently completed an extensive 4-year redevelopment plan, which included new storefronts and facades, new and reconfigured parking lots, new circulation patterns and drive aisles, added site lighting, infrastructure upgrades, monument and pylon signage upgrades and a new traffic light linking both sides of the property. Over the course of ownership, more than thirty retail spaces were either re-leased to new tenants or stabilized via restructuring / extending leases with in-place tenants.
JV co-investment with Acadia Realty Trust.
The property was sold to an institutional real estate investment fund in 2015.