Heritage Park Shopping Center CRE Investment Webinar
After meticulously looking for the right opportunity to expand into the CA market, our acquisitions team just found a rare value-add deal trading at a 6.5 cap in a 5-cap market! Nearly impossible to find right now.
Located in Suisun City, CA, a thriving San Fransisco Bay suburb, Heritage Park Shopping Center is an institutional-quality, 167,250 SF shopping center that is as popular as it is visually stunning. Anchored by a strong mix of national and credit tenants, including a Raley’s grocer, Heritage Park is an established center with a strong lineup of successful tenants, many of whom experienced increased sales over the past 18 months.
But what’s most exciting about this deal for investors is the incredible opportunity for upside, which was totally not acted upon by the site’s previous owner. Our specialized team has the capacity and connections to take over and generate tremendous value through lease-up, NNN spinoffs (huge demand), and site development for this amazing property. Value-add deals of this caliber are already in short supply, especially in the CA market, so be sure to join FNRP’s managing director Drew Carpenter for an in-depth look at Heritage Park Shopping Center, and the incredible value it offers investors.
Financial Projections
+15.2% Target Avg. Annual Return
+5.7% Target Avg. Annual Cash Distribution
+1.5x Target Equity Multiple
+3-Year Target Hold Period
Some Key Details:
Anchored by a 60,000+ SF Raley’s grocery store that’s been a strong-performing tenant since 1989 with lease term through May 2029, and renewal options to remain up to 2044.
Raley’s generates strong sales of over $22M and is a market-dominant grocer.
High-quality tenant roster includes Ace Hardware, Dollar Tree, AutoZone, Dunkin Donuts, and others.
25,000+ SF of rentable vacant space available for lease-up which has the potential to increase rental revenue by over 28%.
Center is situated in a densely populated retail corridor approximately 42 miles from major metropolitans Sacramento and Oakland which contributes to site traffic.
More than 124,862 people live within a 5-mile radius of the center with an average household income exceeding $101K.
Ideal 1031 exchange property with stabilized tenancy and income stream.
Actively growing community with 12 major building projects (2,225 units) in the works, very rare for CA at this time!
- Firm Overview
- Deal Overview
- Market & Location Analysis
- Business Plan
- Deal Room Reveal
- Q&A
His experience ranges from single-family value add investing and short-term rentals, multifamily and grocery-anchored value add CRE with FNRP.
He’s based in Denver, CO, is an active biplane pilot, brand strategist and frequently requested speaker.
Fred brings over 14 years of experience in all commercial real estate industry spaces to FNRP. His skills and focus on tenant relations have led him to complete over 500 lease transactions during his career and execute deals with a wide variety of national-brand retailers such as Dick’s Sporting Goods, TJ Maxx, Lululemon, Save A Lot, Dollar Tree, and many others.
Prior to FNRP, Fred founded Brier Hill Advisors in August of 2020, where he worked with both national landlords and super-regional tenants. Fred also served as a regional vice president of leasing at Brookfield Properties Retail where he oversaw one of the largest NOIs in the fleet ($250MM per year), a GLA of 5.5MM SF, and a team of high-performing leasing professionals.
A native of Youngstown, Ohio, Fred graduated from Ohio State University and shortly began his career leasing super-regional malls for the Cafaro Company. Fred now resides in Atlanta, GA. In his spare time, Fred enjoys spending time with his wife Natalie and their three children. He’s also an avid golfer and tennis player, as well as a Cleveland sports fan.
Prior to joining FNRP, Sam worked on various redevelopment projects with the Kislak Real Estate Institue, where his focus was financial modeling. He also worked in residential real estate, where he helped buyers identify investment opportunities throughout Monmouth County, NJ.
Before joining FNRP, Jared invested across the credit and equity spectrum, focusing on real estate-rich retail, restaurants, homebuilders, and REITs in both distressed and performing companies. He also advised several large private and public real estate operators on prospective investments in well-located corporate and retail-related assets.
He has also deployed more than $100M of equity capital for multi-billion-dollar investment fund platforms through his roles of co-manager and head of research. Jared has an MBA from Columbia University, a JD from Hofstra University School of Law, and a B.S. from New York University’s Stern School of Business. He is admitted to the New York State Bar.
