Tryperion provided preferred equity for the acquisition and lease-up of Bear Creek Plaza, a 190,000 SF grocery-anchored retail center at a prime intersection in Medford, OR.
Investment Highlights
The Sponsor executed two leases simultaneously with closing to bring occupancy from 83% to 98%.
Tryperion acquired the 265,000 SF retail center at 20% occupancy. The property is shadow anchored by the #1 Walmart and #2 Home Depot in Colorado. The business plan included light value-add renovations and aggressive efforts to lease the remaining vacant space.
Investment Highlights
The venture executed two leases at closing bringing occupancy from 20% to 73%.
Tryperion acquired Costco Plaza, a 237,000 SF, 23-acre retail center in the Phoenix MSA shadow-anchored by Costco, at 79% occupancy. The business plan included selling off pads, implementing a capital expenditure program to modernize the center, and leasing to stabilization.
Investment Highlights
Brought occupancy from 59% to 97% with over 7 years of weighted average lease term during the challenging post-Covid leasing environment
Tryperion acquired the 62% occupied, 131,000 SF shopping center in the affluent and densely populated Chandler submarket. We completed cosmetic upgrades to lease up the anchor and inline vacancies and selectively sold individual retail pads.
Investment Highlights
Sold the Walgreens pad within three months of taking ownership
Leased another pad to a grocery store and sold within six months of ownership
Tryperion acquired the 97% occupied 138,000 SF retail shopping center with adjoining two land parcels in the expanding northeast San Antonio corridor. The business plan focused on maintaining occupancy while capturing additional value through the individual sale of the pads and land parcels.
Investment Highlights
Immediately sold a free-standing Little Caesar’s pad to the tenant/franchisee
