Harrisonburg, VA Retail Acquisition

[Cassidy Burns]

Investment Info:

Retail commercial investment investment in Harrisonburg.

Purchase price: $3,200,000
Cash invested: $800,000

1st Acquisition in our Commercial Opportunity Fund. We were able to negotiate great seller finance terms with 20% down, a 4% interest rate for the first 2 years, and a 5% interest rate for the remaining 8 years, fully interest-only. This asset is under rented ($9.62/ SQ FT) and our value add strategy is by placing long term leases into the 1 vacant space and bringing the other current tenants up to market value rents (~$14.50/SQ FT).