Case Studies
CASE STUDY
Cloister Shopping Center
State:
Pennsylvania
City:
Ephrata
County:
Property Type:
Neighborhood Shopping Center
Square Feet:
52,735 SF
Date Purchased:
2023
Date Sold:
Overview
This shopping center sits right on the junction of Route 272 and Route 322. The shopping center serves the surrounding area of the borough of Ephrata, PA. The shopping center is anchored by McDonalds', Large Fulton Bank Branch, Pet Supplies Plus, Family Dollar, and Dominos. Other tenants include Pizza parlour, physical therapy, realty office, laundormat, Cafe, barbershop, and asian restaurant. This shopping center is truly a mix of both national, regional, and local tenants that all perform well given the location and high walking traffic count.
Strategy
Give the shopping center is located across the street from the regional hospital and the most highly trafficked McDonalds' and banks in the area. This property has tons of street and road visbility. These are the types of shopping centers that our company desires to focus on.
Execution
CASE STUDY
Westside Plaza
State:
Pennslyvania
City:
Chambersburg
County:
Property Type:
Neighborhood Shopping Center
Square Feet:
57,400
Date Purchased:
2022
Date Sold:
Overview
Westside Plaza is a large shopping plaza located on the west side of Chambersburg, PA. The property sits right on Route 30 with tremendous Road Frontage. The property is anchored by Surplus City, a discount hardware store, with several local and regional tenants. The property also has a Wendy's outparcel.
Strategy
Execution
CASE STUDY
State Street Plaza
State:
PA
City:
Lemoyne
County:
Property Type:
Retail Shopping Center
Square Feet:
53,680
Date Purchased:
2022
Date Sold:
Overview
State Street Plaza is a 51,673 SF retail/ flex space shopping center located in the Heart of Lemoyne and servers the West Shore. The property has a mix of local tenants including restaurants, construction, staffing, hair salon, ethnic grocery, gun store, personal training studio, and clothing stores. The property also has brand new flex space. The property niche is it offers affordable rental rates and are one of the lowest rental rates in the West Shore.
Strategy
Execution
CASE STUDY
Mifflin Plaza
State:
PA
City:
Shillington
County:
Berks
Property Type:
Multi-tenant Office Building
Square Feet:
21,000 SF
Date Purchased:
Jan-01
Date Sold:
May-14
Overview
S&S Singh Partners purchased this 21,000 SF Class C office building located along the heavily traffic Route 222 business. At the time of purchase, the property was 40% occupied with many various tenants including Insurance, Dentists, Counseling, and massage therapy.
Strategy
The location and visibility of the property on Route 222 business was a main factor leading to the decision to acquire the property. This route is the main artery connecting the towns of Shillington and Kenhorst to downtown Reading. The property’s low price point per square foot and the below market rents for Class C office space equated to limited investment risk for the partners.
Execution
With aggressive investments to the exterior and interior renovations, the partners made every effort to make the office building up-to-date. Years of neglect had left the property in desperate need of fresh coating of paint and new carpets. Prior to acquisition, the building housed mostly service or medical tenants. The partners decided that the building would be great fit for young lawyers and accountants that were looking for affordable office space to jump-start their careers. With this new emphasis on aggressive marketing thru media, brokers, and new signage. The partners took the occupancy to 85% and generated more rents per square foot. In 2014, the partners sold the property at more than double the acquisition price.
CASE STUDY
901 Shamokin Plaza
State:
PA
City:
Coal Township
County:
Northumberland
Property Type:
Multi-tenant retail center
Square Feet:
15,000 SF
Date Purchased:
Jul-11
Date Sold:
Dec-15
Overview
S&S Singh Partners acquired the 15,000 SF two-tenant strip center located between the towns of Shamokin and Kulpmont Pennsylvania. The two tenants were Aaron’s Rental and Advance Auto parts.
Strategy
Before going into the deal, we determined thru our due diligence process that Advance Auto parts store was do above average sales. We also determined thru a market study that both tenants were paying below markets rents. This made the possibility of both tenants exercising a renewal option at higher rents more likely, thus we could add value to the center based on this alone. One of our main philosophies has been to acquire retail tenants that are performing well and paying low rents.
Execution
After acquiring the strip-center, the partners did minor capital expenditure on both the roof and parking lot. They exercised lease renewals from both Advance Auto parts and Aaron’s rental at 15% higher rents. They were able to get a cell tower lease at their property. The ground lease was guaranteed by Verizon communication. This lease added tremendous value to the property, and after 5 years of holding the property the partners decided to sell the property at 70% more than the acquisition price.