Value Investment Group is thrilled to announce our most recent acquisition of a 64,500 square foot building formerly leased to Safeway located in Centennial, CO. We have had a promising amount of interest from potential tenants including two national fitness centers and a regional swim school during our due diligence period. There is also an opportunity to develop a pad site on the property and we have two national quick service restaurants showing interest in leasing the pad. This addition to our portfolio will be a great redevelopment play for our firm.
VIG is proud to announce our most recent acquisition, Falls Plaza located in Menomonee Falls, WI. This two building 37,659 square foot retail shopping center is in a great area with below market rental rates and many upcoming expiring leases. We will soon begin improvements the property including a complete upgrade to the facade, new monument signs, refreshing the parking lot, new roofs and updated landscaping. Once the improvements are complete we will begin renewing the tenants at market rental rates. The strong ability for us to force appreciation at Falls Plaza makes this an exciting addition to our portfolio.
VIG is proud to present our latest acquisition of three land lots in Delta, CO. The three acres are located in the main retail corridor of Delta right off of Highway 92. The center is anchored by a Super-Walmart and Safeway as well as next to other major national businesses such as Auto-Zone, Family Dollar, Taco Bell, Sonic, Dominoes Pizza, and many others. We purchased the land with all cash at a fire sale price. We are currently working to find national tenants for a built to suite opportunity or land lease. This will be an excellent investment in 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. This is Value Investment Group’s second industrial acquisition at the Air Park in Prescott allowing us to utilize our existing management team in the area. This will let us immediately begin implementing our proven procedures to lease the vacant space making this a very exciting acquisition.
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. The property will provide 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.
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 repaired 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!
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 with substantial room to force appreciation making this an exciting addition to 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 5 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.
Vickers Plaza Retail Center is a 20,342 square foot retail strip center located at in Colorado Springs, CO. The property features nine in-line units and one out parcel anchor with many long term tenants. Vicker’s 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 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!
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 Oschner 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.
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 St 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 Blvd 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.
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.
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.
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.
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.
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.
New York Ave Apartments are 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.
The Newberry Cottages are 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.