We Buy Shopping Centers
Grocery-Anchored Retail Acquisitions and Dispositions
Below outlines our buying criteria for all acquisitions. If you have an opportunity that aligns with these parameters, please contact our acquisitions team to discuss.
Type |
Value-Add: Grocery, Walmart, or Target Anchored Centers |
Vacancy |
15%+ |
Cap Rate |
7.0%+ |
Center Type |
50,000 SF+; Neighborhood, Community, Power Centers |
Geography |
Nationwide (prefer Midwest, Southeast, East Coast) |
Hold Period |
3 to 5 years |
Transaction Size |
$5 to $50 million (single assets); Portfolios wanted |
Broad Reach Retail’s Goal with Commercial Retail Real Estate Acquisitions
Broad Reach Retail’s mission is to create value for our Partners, Properties, and People through the disciplined acquisition and revitalization of broken or underutilized grocery-anchored shopping centers. When assessing a potential acquisition, three key criteria guide our decisions:
- Grocery-anchored retail: We buy, lease, and manage grocery-anchored retail shopping centers selling necessity-oriented offerings or general merchandise. The grocery store is the key anchor, which we leverage during the revitalization process.
- Strong grocery sales: The Broad Reach team only considers centers with strong tenant sales, which ensures consistent foot traffic to the center and the viability of the grocery anchor.
- Value-add: We transform underutilized shopping centers into thriving retail hubs. Significant value is created by increasing occupancy and cash flow. This is accomplished by adding new tenants that fill retail voids, developing excess land with new retail construction, and accretive pad sales. This in turn enhances the shopping experience of community members which helping local economies grow through an expanded job base and increased tax revenues.
Our Portfolio Anchors
Recent Closings
Date |
Name |
Location |
Grocer |
SF |
Occupancy at Acquisition |
Purchase Price |
| April 2021 | Henderson Pointe | Henderson, NC | Food Lion | 188,647 | 72% | $7,250,000 |
| June 2021 | Hunt River | Providence, RI | Stop & Shop | 149,321 | 78% | $17,250,000 |
| May 2022 | Wilmington Plaza | Wilmington, OH | Kroger | 198,085 | 83% | $7,900,000 |
| May 2022 | Green Ridge Plaza | Scranton, PA | Giant | 191,755 | 71% | $12,300,000 |
| August 2022 | Penn Crossing | Jeanette, PA | Giant Eagle | 107,339 | 87% | $9,575,750 |
| December 2022 | Eagle Village | Fredericksburg, VA | Giant | 127,778 | 88% | $13,900,000 |
Send Us Your Deals!
Jim Whelan
Vice President of Acquisitions
Before joining Broad Reach, Jim served as the Vice President of Retail Transactions at Chase Properties, where he oversaw all retail acquisitions and dispositions. Prior to his time at Chase, Jim dedicated over a decade to various directorial roles at Harbour Retail Partners (Atlanta) and BC Wood Properties (Lexington). His responsibilities spanned acquisitions, asset management, leasing, and property management. Jim holds the prestigious CCIM designation and is an active participant in ICSC.
A graduate of Transylvania University, Jim resides in Louisville, KY, with his wife, Lauren, and their two children, Charlotte and Graham
- Grocery-anchored retail: We buy, lease, and manage grocery-anchored retail shopping centers selling necessity-oriented offerings or general merchandise.
- Strong grocery sales: The Broad Reach team only considers centers with strong tenant sales, good margins, and achievable upside, emphasized by established markets anchored by a dominant grocer.
- Value-add: We transform underutilized shopping centers into thriving retail hubs, creating value with increased occupancy and cash flow, filling retail voids, and helping local economies grow. We have years of experience when it comes to dealing with retail acquisitions and dispositions, as well as with pad sales or developable land.