This community shopping center in Virginia’s Stafford County, a rapidly growing suburb of Washington, DC., was acquired with major tenants such as Shoppers Food Warehouse, Rite Aid, Logicon, General Nutrition Centers and Big Lots. The center also includes more than 50 additional in-line tenants.

Upon acquiring the center, Berman Kappler immediately implemented a creative and aggressive leasing strategy. Within 90 days the net operating income was increased by 30% by adding new credit tenants and increasing operating efficiency.

VALUE ACHIEVED

• Occupancy was increased from 67% to 90% in six months.
• Net operating income rose by 30% within the first year of ownership.
• Increased the credit tenant ratio.
• Upgraded the tenant mix which included the conversion of a vacant non-performing 70,000 space into viable office and retail uses.