ACQUISTIONS

CenterCal Properties, LLC is a retail development company formed in 2005 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 one of only five 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 over 3.5 million sq. ft. 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 CRITERIA

Property Type
 
 
 
  Areas of Interest
  Minimum Investment Size Maximum Investment Size Property Size Standard Feasibility Period Standard Closing Period Terms
  Expansions and Renovations Development Projects  
Grocery/Drug-anchored Centers; Power Centers; Lifestyle Centers; Mixed-Use Developments (with large retail component); and Retail Development Sites California, Idaho, Utah, Nevada, Oregon and Washington $15,000,000 None >75,000 sq. ft. 30 days 30 days Prefer all cash transactions, but will consider cash to existing debt. Encouraged Pre 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
CONTACTS

Projects may be submitted in strictest confidence to:
Rupesh Bhakta
1960 E. Grand Avenue
Suite 400
El Segundo CA 90245
rbhakta@centercal.com