Real Estate for Everyday Retail
$35.77   -0.20 NYSE: WRI

Overview

The Palms

Miami, FL

The Palms at Town & Country is an 80-acre, open-air lifestyle and power center site located along the Florida Turnpike at Kendall Drive/SW 88th Street. The eclectic lineup of retailers includes recession-resistant tenants such as Publix, CVS alongside retailers like Dick’s Sporting Goods, Nordstrom Rack, Total Wine and restaurants that cater to an affluent customer with discretionary income.

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We look for well-anchored neighborhood and community centers in major metropolitan areas with strong population growth and high barriers to entry. These properties can be core supermarket anchored or core plus/value added opportunities including ground-up development sites.

Type:

  • Anchored community, neighborhood, infill power shopping center and mixed-use
  • Minimum of 50,000 SF; 100,000 plus SF preferred
  • Multi-tenant including existing anchor stores (or facility which can accommodate this use)
  • Preference for properties where we can add value through lease-up, re-merchandising, renovation, additional building
  • Redevelopment and new ground-up development
  • Strategic locations are required and supermarket and/or discount anchored centers are preferred
  • Infill and urban trade area with a minimum population of 70,000
  • Located at a major intersection of two thoroughfares
  • Minimum size investment: $15 million

Geographic Preference:

  • Focus on West, Southwest, Southeast and Mid-Atlantic Regions
  • Prefer major MSAs with minimum population of 750,000

Deal Structure:

  • Flexible to meet situational needs - will purchase for all cash, leveraged, joint venture, DownREIT (tax deferred partnership), profits participation

Weingarten Realty requires the following for preliminary analysis:

  • Price
  • Leasing Plan
  • Rent Roll
  • Debt Information
  • Photos of Property
  • Demographic Information
  • Previous Year and TD Profit and Loss Statement
  • Three Years’ Major Tenant Sales History