The Salina Shopping Center consists of 6,400 square feet and was purchased with T-Mobile occupying 29% of the building. The property is located along a major retail corridor on a signalized hard corner. We immediately began working to correct all of the deferred maintenance and implemented diligent efforts to fill the vacancies. We anticipate being able to stabilize the asset quickly allowing us to substantially increase the value over a short period of time.
The Pueblo Industrial Park consists of four buildings totaling 28,800 square feet and includes 12 individual suites each with a roll up bay door. When we purchased the property, all of the tenants were on hand-shake agreements and no leases were in place. We are working to paint the buildings, repair the parking lot, add landscaping, and convert the vacant land to outdoor storage. We will be able to add tremendous value to this asset over the short-term and look forward to holding onto it for cash flow.
VIG has acquired a single tenant industrial building in Saint George, UT. FlexPack is a nutritional company that produces and packages health products. They have occupied the building for five years. In tandem with closing the property we executed a new lease with the existing tenant bringing their rental rate up to market. VIG intends to hold this property for the long-term as it will be a great cash flow investment.
The VA Office Building, located in a suburb of Austin, TX, consists of 20,000 square feet and is the former city hall building for Cedar Park. The bottom floor is leased to Veteran Affairs who has been at the property five years. We have begun working to remodel and back fill the top floor with new tenants. This will be a great value add turn around deal for our firm.
We finished out 2020 when we purchased a 115,000 SF small bay industrial park located in Milwaukee, WI. The property was acquired at 93% occupancy with many long-term tenants in a submarket that has a low 2% vacancy rate. We have since forced appreciation on the property by bringing the tenants to market rate rents and have refinanced the property. This investment has been a great addition to our portfolio.
The Howling Coyote Mexican Cafè leased this 5,500 square foot restaurant from us while we were under contract to purchase it on an absolute net lease. The previous user was a Mexican restaurant that had been in business for 48 years and was well established in the market place. This tenant will thrive at this location and we look forward to the cash flow this asset will provide.
During the last week of 2020 we closed on a 12,500 square foot small bay industrial building in Albuquerque, NM. The property was built in 2004 and we have since switched out two of the three tenants and brought them all to market rate rents. This is our second acquisition in Albuquerque, allowing us to utilize the existing team we have established in the area. This asset will be an ideal long-term hold for us.
We are excited to announce our newest acquisition. Baron Lane Industrial Building is a 9,000 square foot small bay industrial building in Rifle, CO. Tenant rents were substantially below market when we purchased it and have since been increased. The property is 100% occupied and was purchased with seller financing. Baron Lane is our third acquisition in Rifle, CO. This asset will be a great long term cash flow play for Value Investment Group!
This 13,800 square foot retail center was purchased at auction. The project is located in Horn Lake, MS, 20 minutes from downtown Memphis. The area is a major retail hub and offers high traffic counts of over 39,000 VPD. We have signed several new leases at the property and are at 100% occupancy. The property will be a great turn around project for our portfolio.
VIG is excited to have purchased an apartment complex in Cheyenne, WY. The property is located along a major retail corridor with many national tenants. The site has a dedicated stop light on the corner making it a prime spot to develop into retail. We are currently working to find national tenants for a build to suit opportunity or land lease. We will then demolish the existing structure and build commercial. This will be an exciting development project for VIG.
VIG purchased at auction Vista Del Bosque located in Albuquerque, NM. This 11,432 square foot building is located in a major retail area of Albuquerque with traffic counts of 54,000 vehicles per day. The area boasts strong demographics with an average household income of $100,000 in a one-mile radius. We brought the property up to 100% occupancy before selling it for a substantial profit.
VIG is proud to present our latest acquisition of River Village in Tucson, AZ. We purchased the two buildings on each end of the existing Albertson’s which make up 16,650 square feet. The property is home to several national tenants including Subway, Papa John’s, Title Max, Great Clips and Jackson Hewitt and is 100% occupied. This has been an excellent investment in our portfolio.
Ken’s Pit Stop is an automotive service property consisting of three buildings totaling 9,856 square feet. It is located along the main business corridor of Rifle, CO. The property was purchased with attractive terms and seller financing. During due diligence we renewed the current tenant on a new 5-year lease. This is Value Investment Group’s second acquisition in Rifle, CO, allowing us to utilize our existing team in the area. We have since sold the property for a decent gain.
This 64,500 square foot building formerly leased to Safeway located in Centennial, CO was purchased vacant. We have leased 17,000 square feet to Big Blue Swim School and are working with a big box retailer to fill the remaining vacancy. This addition to our portfolio has been a great redevelopment play for our firm.
The Smoky Hill Pad Site was purchased as part of the Smoky Hill Retail Center. After closing on the property, we began working with the City of Centennial to parcel off the pad site from the shopping center. We are currently working to develop a Starbucks on the pad site. They anticipate opening their doors in February of 2022.
Falls Plaza, located in Menomonee Falls, WI, is a two-building, 37,659 square foot retail shopping center in a great area. Shortly after closing we began extensive improvements to the property, including a complete upgrade to the facade, new monument signs, refresher of the parking lot, new roofs and updated landscaping. After completion of the upgrades and renewing the tenants, the property was sold for a strong profit.
The Delta center was originally three lots purchased in a Super Wal-Mart shadow anchored shopping center. The back two lots have since been sold for more than triple the original investment. We are currently working to find a quick service restaurant or similar tenant for a build to suit or land lease opportunity.
This 42,380 square foot industrial flex center is located off of Highway 85 and C-470 in the Hilltop Business Center at Southpark in Littleton, CO. The well constructed building was built in 2001 and was purchased at auction significantly below replacement cost. It came 100% occupied with three long-term tenants. We have since dispositioned this asset and it is no longer in our portfolio. The property provided substantial capital gains due to the low purchase price.
This 5,226 square foot Starbucks retail center is located next to the Super Wal-Mart in Woodland Park, CO. This beautifully constructed three-unit building was built in 2015. It is positioned right off of Highway 24 and is a bedroom community to Colorado Springs. Prior to closing on the property, we leased the vacant space bringing it to 100% occupancy. The property will provide strong cash flow, making this an exciting addition to our portfolio.
The Crosswind Industrial Building is a 43,272 square foot industrial warehouse constructed in 1992 and located in Prescott, AZ. It is positioned in close proximity to State Road 89A at the Airpark in Prescott, an area with low vacancy and a thriving business corridor. The property was purchased vacant and well below replacement cost with substantial room to force appreciation. During our due diligence period we began working with Ferguson Enterprises Inc who leased 66% of the building after closing and have since brought the property to 100% occupancy. The property provides a tremendous monthly cash flow.
Iron Springs Plaza is a 13-unit retail shopping center located in Prescott, Arizona. Over the 18-month life of the investment, we took the property from 38% occupancy to 100%. We also did extensive renovations to the property, including a complete face lift of the facade, new monument sign, new awnings, and repair of the parking lot among other improvements. We sold the property for more than three times our purchase price due to repositioning through increased occupancy and upgrades! We have since dispositioned this asset and it is no longer in our portfolio.
This 13,350 square foot two story office building, constructed in 2005, is located in Woodland Park, CO. It is positioned right off of Highway 24 and is a bedroom community to Colorado Springs. It is next to McDonald’s, Arby’s, Sonic, Jimmy John’s, Big-O Tires and many other major retailers. The property was purchased well below replacement cost. We have since dispositioned this asset and it is no longer in our portfolio.
CDS Industrial Park is a 30,000 square foot single story industrial building located in Prescott, AZ. The building was built in 2000 and is in a great location at the Airpark in Prescott, an area with low vacancy and a thriving business corridor. The property was purchased in June 2017 with 20,000 square feet leased to CDS Global. CDS Global is a wholly owned subsidiary of Hearst Corporation and is the largest magazine fulfillment house in North America. During our due diligence we were able to renew their lease to extend out five years. We also lined up a national tenant and a medical tenant who leased an additional 3,000 square feet each bringing the property to 100% occupancy. After holding the property for several years, we sold it for a substantial profit.
Vickers Plaza Retail Center is a 20,342 square foot retail strip center located in Colorado Springs, CO. The property features nine in-line units and one out parcel anchor with many long-term tenants. Vickers Plaza is located in El Paso County within the Colorado Springs metro area. Colorado Springs is the second largest city in Colorado and is located about 50 miles south of Denver. This investment was purchased 70% occupied in April 2017 and sold in July of 2018. Over the course of the investment, VIG completely enhanced the exterior facade, recapped and striped the parking lot, installed an upgraded monument sign, replaced the roof, remodeled most of the suites, nearly doubled the rents on long-term leases and brought the property to 100% occupancy. We were able to achieve a 125% return on investment in only 14 months! We have since dispositioned this asset and it is no longer in our portfolio.
Northshore Professional Park is a medical community located off of I-10 in Slidell, LA. The seven buildings make up a total of 22,859 square feet. Northshore Professional Park is located adjacent to the Ochsner Medical Center which employs over 1,100 people. The property is ideally situated near the high-traffic intersection of I-10 and HWY 190 just 30 miles northwest of New Orleans, LA. We have completed exterior remodeling and a facelift of the property as well as implemented our proven procedures to lease vacant suites and create hands-on management. We have since dispositioned this asset and it is no longer in our portfolio.
The Eagle Promenade Shopping Center is a 7,289 square foot retail strip center located in Eagle, ID. This elegant property was built in 2005 and is located in a WinCo Foods and Home Depot anchored shopping center. It features excellent visibility on State Street with an average daily traffic count of over 40,000 vehicles as well as a strong consumer base with an average household income in a one-mile radius of $84,675. Lying just eight miles west of Boise, Eagle has all the modern shopping amenities and services of a large metropolitan city at its disposal. Tenants include Taco Del Mar, T-Mobile, Postal Annex, Diamond Nails and Vapor Lounge. This property was sold in April of 2018.
Rock Springs Plaza 2 is a 13,160 square foot retail strip center located in Rock Springs, WY. This beautiful Class A property was constructed in 2004 and is in a Super Wal-Mart anchored shopping center. Located directly off of Interstate 80, Gateway Boulevard boasts an average daily traffic count of 21,000 vehicles. This area of Rock Springs is highly populated with many nearby major retailers. The property features a strong consumer base with an average household income of over $81,000 in a five-mile radius. Tenants include Quiznos Subs, Little Caesars, Verizon Wireless and Game Stop. The property provided a consistent cash flow for several years before being sold in 2020.
Rock Springs Plaza is a 15,623 square foot retail strip center located in Rock Springs, WY. This stunning Class A property was constructed in 2006 and is in close proximity to our Super Wal-Mart shadowed shopping center. This retail center has daily drive-by traffic in excess of 20,950 vehicles. This area of Rock Springs is highly populated with many nearby major retailers. The property features a strong consumer base with an average household income of over $81,000 in a five-mile radius. Some of the tenants include Edwards Jones, Mortgage Solutions, Bank of the West, My Hearing Center and Alliance Physical Therapy. The property provided a consistent cash flow for several years before being sold in 2020.
This 9,750 square feet single story industrial building is located in Rifle, CO. The property was purchased fully occupied with long-term leases. Tenants include Fastenal and RJ Mann & Associates. Located right off of I-70 in Garfield County, the property is in close proximity to the airport, Colorado Mountain College, the Grand River Health Center and Super Wal-Mart. Rifle is in the heart of the Rocky Mountains at the base of Aspen and Vail. The property provided a consistent cash flow for several years before being sold in 2020.
Mountain Shadows Professional Center is a neighborhood medical and professional office building located in Colorado Springs, CO. The property totals 23,948 lease-able square feet and is located on 2.37 acres. Mountain Shadows has an ample 5.05 parking ratio (121 spots) and traffic counts in front of the office building are over 22,000 vehicles per day. Located near the Garden of the Gods, the surrounding zip code is the second wealthiest in Colorado Springs with a one-mile average household income of over $99,000. We sold the property in August of 2016. Over the 14-month life of this investment we realized a 180% cash on cash return. We have since dispositioned this asset and it is no longer in our portfolio.
Highland Park Apartments, located in Tulsa, OK, is a 138-unit apartment community. This property is located on over six acres and features six three story buildings as well a stand-alone office and laundry facility. Tulsa is ranked the 5th most affordable city in the United States and is home to some of the nation’s largest aerospace, energy, health care, technology, manufacturing and transportation companies. We have since dispositioned this asset and it is no longer in our portfolio.
Garden Square Apartments is a 48-unit apartment community located in Oklahoma City, OK. The property features a dog park, grill area and on-site laundry facility. Located next to the brand new Outlet Shoppes at Oklahoma, the area is home to many top tier retail establishments. This property was purchased highly distressed with a low occupancy and several units in need of substantial rehab. VIG was able to stabilize the community and sell it for a fantastic gain. We have since dispositioned this asset and it is no longer in our portfolio.
New York Avenue Apartments is a garden style apartment complex located off of the strip in Las Vegas, NV. The property features a gated common area and dog run. Las Vegas and surrounding areas boast a population of over two million residents. Las Vegas was among the fastest growing cities in the United States over the last decade. We have since dispositioned this asset and it is no longer in our portfolio.
The Newberry Cottages is a beautiful six-unit cabin style rental property located in Cedar City, UT. The town home style units offer a stunning cottage-style feel with private fenced backyards and great mountain views. The parking lot for this property is offset from the main road, offering a secluded atmosphere while still being well located in town. Cedar City is home of Southern Utah University, Southern Utah’s premiere university, which is located about a mile from Newberry Cottages. We have since dispositioned this asset and it is no longer in our portfolio.