Category: Asset Class

Property details

Sullivan, Missouri

Walgreens Center

Investment type

Net Lease

Asset Class

Retail

Ownership Structure

Tenancy-In-Common (TIC)

Year Acquired

2013

Investment Summary

An approximately 20,682 square foot, single story, retail building, primarily leased to Walgreens. The property was originally operated by Strauser Drugs, a local pharmacy that was acquired by Walgreens in 2012.

Syndicated structured its acquisition as a Tenancy-in-Common (TIC) to accommodate investors completing a Section 1031 Exchange.

Property details

Bannockburn, ILlinois

NorthShore Health

Investment type

Net Lease

Asset Class

Medical

Ownership Structure

Tenancy-In-Common (TIC)

Year Acquired

2012

Investment Summary

The property consists of a 40,800 square foot medical office building leased to NorthShore University HealthSystem in Bannockburn, Illinois.

The property was originally developed in the 1970s as a commercial office building but underwent an extensive renovation in 2002-2003, which converted its use to medical.

Syndicated structured its acquisition as a Tenancy-in-Common (TIC) to accommodate investors completing a Section 1031 Exchange.

Property details

Homestead, Pennsylvania

Waterfront Shopping Center

Investment type

Value Add

Asset Class

Retail

Ownership Structure

Joint Venture

Year Acquired

2012

Investment Summary

Syndicated invested alongside M&J Wilkow in The Waterfront, an approximately 765,000 square foot regional shopping center located in Homestead (Pittsburgh), Pennsylvania.

Situated on 265 acres, the property stretches for 2 miles along the Monongahela River, across from the Squirrel Hill and Shadyside neighborhoods, and is approximately 7 miles southeast of the Pittsburgh central business district. The property consists of two components, a 358,704 square foot Power Center and a 405,987 square foot Lifestyle Town Center.

Property details

Northbrook, ILlinois

Caremark

Investment type

Net Lease

Asset Class

Office

Ownership Structure

Joint Venture

Year Acquired

2012

Investment Summary

Syndicated invested alongside White Oak Realty Partners in the acquisition of CVS Caremark Tower, a 172,500 square foot, Class A office building located in Northbrook, Illinois, approximately 20 minutes north of downtown Chicago.

Property details

Chicago, ILlinois

Walgreens Parking Lot

Investment type

Net Lease

Asset Class

Parking

Ownership Structure

Tenancy-In-Common (TIC)

Year Acquired

2011

Investment Summary

An 8,758 square foot surface parking lot leased to Walgreens (S&P: BBB), who operates a store on the adjacent parcel. Walgreens had initially planned for 35 parking spaces, which ultimately proved inadequate to serve its high volume of customers. The adjacent lot, which features a small retail building, was acquired and converted to its current use to provide an additional 27 parking spaces.

Syndicated structured its acquisition as a Tenancy-in-Common (TIC) to accommodate investors completing a Section 1031 Exchange.