Acquisition Page

Acquisitions

Aquisition CriteriaCriteria

Property TypeGrocery/Drug-anchored Centers; Power Centers; Lifestyle Centers; Mixed-Use Developments (with large retail component); and Retail Development Sites
Areas of InterestCalifornia, Idaho, Utah, Nevada, Oregon and Washington
Minimum Investment Size$15,000,000
Maximum Investment SizeNone
Property Size>75,000 sq. ft.
Standard Feasibility Period30 days
Standard Closing Period30 days
TermsPrefer all cash transactions, but will consider cash to existing debt.
Expansions and RenovationsEncouraged
Development ProjectsPre Sales and JV opportunities strongly considered

Please include the following, as available, when submitting a property for review:

  • Price and terms
  • Seller information and motivation
  • Full size site plan with tenants shown
  • Rent roll with the following information:
    • Tenant
    • Square footage
    • Lease term
    • Options and terms
    • Base rent
    • Expense reimbursement information (triple net, base year – show amount, etc.)
    • Percent rate breakpoint including offsets
    • Percent rent rate
    • Tenant sales for 3 previous years
    • Rent steps and timing
    • Tenant accounts receivable aging
  • Debt information (original balance, current balance, interest rate, prepayment penalties and timing, amortization period, maturity)
  • Physical information (environmental studies, deferred maintenance required, 3 year capital repair history)
  • Demographics and trade area competition summary
  • Location maps, pictures
  • Three (3) year operating P&L

 

CenterCal Properties, LLC is a retail development company formed in 2004 by Fred Bruning and Jean Paul Wardy to continue their tradition of developing and acquiring high quality retail properties throughout the western United States. Jean Paul and Fred combined have over 50 years experience in shopping center development and have worked together for over 12 years. 

 

CenterCal Properties is a retail development joint venture partners of California State Teachers Retirement System (CALSTRS), and is one of most active retail developers in the United States. Currently the company has millions of square feet in various stages of development.

 

The Company seeks to continue to grow its shopping center portfolio through ground-up development and the acquisition of both core and value-added retail and mixed-use assets.

Acquisition ContactContact

Projects may be submitted in strictest confidence to: