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!
Nate Tower
President & CEO
Nathaniel “Nate” Tower is the founder and managing member of Broad Reach Retail Partners, LLC. Prior to the formation of Broad Reach, Mr. Tower was the Chief Investment Officer (“CIO”) at Phillips Edison & Company (“PECO”), one of the nation’s largest and fastest growing owner/operators of grocery-anchored shopping centers and premier acquisition groups.
As CIO, Mr. Tower led PECO’s effort to acquire, finance and grow the company’s portfolio from 5 centers in 1996 to over 90 centers when he left the company in 2005. During this period, Mr. Tower bought 85 shopping centers in 50 separate transactions, with over $490 million in total transaction value. Mr. Tower’s leadership and transaction success at PECO increased the company’s Net Operating Income in excess of $50.65 million and the value-add nature of the opportunities created an additional $250 million of net new value for the investors in the company.
Prior to joining Phillips Edison & Company, Mr. Tower spent 7 years at Collier Pinkard, a premiere 3rd party Real Estate Brokerage and Property Management Company in Baltimore. Mr. Tower has his Bachelor of Arts from the College of Wooster and his Masters in Real Estate from Johns Hopkins University. Mr. Tower formed the JEMICY School’s Alumni Association and served on the school’s board for 8 years. In addition, Mr. Tower served as the founding Chairman of the Baltimore Leukemia Cup Regatta and Commodore of the Baltimore City Yacht Association.
Matt Perlmutter
Capital Transactions Manager
As the Capital Transactions Manager, Matt Perlmutter plays a critical role in the acquisition due diligence, acquisition financing, dispositions, and asset management of the Broad Reach portfolio. Through these responsibilities, he creates and drives value for Broad Reach. Prior to this role, Matt spent a year on the Acquisition’s Team at Broad Reach and was responsible for sourcing and underwriting acquisitions and redevelopment opportunities throughout the country.
Before joining Broad Reach, he worked at Newmark and was responsible for underwriting, due diligence, and market research on the National Loan Sales Team where he sold, financed, or valued more than $5 billion of loans and properties. Matt holds a Bachelor of Arts in Economics from the University of Maryland, College Park, and enjoys traveling, as well as playing golf and basketball.
- 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.