iCrowdNewswire - Jul 11, 2016
U.S. Realty Partners, Inc.
U.S. Realty Partners is a real estate investment company specializing in the acquisition, financing, asset management, development and redevelopment of high quality retail properties located in strategic market areas of the western United States. They focus on anchored…
U.S. Realty Partners and Compass Acquisition Partners are seeking investors to co-invest in the Watt Town Center located at 3601 – 3675 Elkhorn Boulevard, North Highlands, California. The property consists of approximately 146,895 square feet of leasable area situated on approximately 14.21 acres of fee owned land and was built in 1971 and renovated in 1995. It is a dominant shopping center in the trade area and is anchored by dd’s Discounts (Ross Stores), Big Lots, Dollar Tree, Fitness Evolution, Big 5, Citi Trends, and Payless Shoes. This is a stable cash flowing shopping center with built in rent increases. The tenant roster is comprised of over 60% national and regional high quality tenants. USRP is purchasing it based solely on in-place income. Most of the tenants have been at the property for many years and have leases at or under current market rents.
- Multiple anchor “value oriented” shopping center with chain tenants offering quality off-price merchandise
- Tenant mix is insulated from internet retailer competition
- 10% preferred return to investors
- Major intersection with over 60,000 cars per day
- Dense population with over 125,000 people within 3 miles
- Low purchase price of $94 per square foot (compared to estimated replacement cost of $175 per square foot)