We Buy Shopping Centers
Grocery-Anchored Retail Acquisitions and Dispositions
Broad Reach Retail Partners was founded in 2006 with three fundamental beliefs:
- Every community needs a marketplace that provides goods and services to people within that community for their daily lives.
- There are fundamental inefficiencies within the shopping center market which, in turn, create opportunities.
- Through disciplined buying and focused leasing and management, significant value can be created.
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
Broad Reach is Always Buying!
We are always in the market for shopping centers with potential.
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.
Brokers are always protected.
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 |
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!
NATHAN S. MCKAY
ACQUISITIONS OFFICER
Nathan “Nate” McKay has over 10 years of experience in commercial real estate. In his role as Acquisitions Officer, Nate is responsible for sourcing and evaluating acquisitions and redevelopment opportunities throughout the United States. In addition to his role in acquisitions, he assists with financing, due diligence and capital raising.
Prior to joining Broad Reach, he worked as the Director of Market Research for First Washington Realty, a pension fund adviser that owns core grocery-anchored real estate throughout the United States. Nate has experience in valuation, deal sourcing and market analysis, and was involved in the acquisition of over $350M of shopping centers. Nate also worked as a Senior Analyst at First Capital Realty, an institutional apartment broker, and assisted in the sale and marketing of $650M in assets.
He holds a Master of Science in Real Estate from American University, and a Bachelors of Business Administration with a concentration in Finance from the University of Hawaii at Manoa.
DAVE ROGERS
ACQUISITIONS ASSOCIATE
As the Acquisitions Associate, David focuses on sourcing and underwriting new acquisitions and redevelopment opportunities across the country. Prior to joining Broad Reach, he worked as a Capital Markets Associate for Metropolis Capital Advisors, where he arranged financing for all property types around the Mid-Atlantic region. David Holds a Bachelor’s Degree in Economics from Ursinus College. We are excited to have Dave as a member of our crew!
- 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.