• Going in cap rate no lower than a mid-upper 7% (unless it’s an outside-of-the-box deal with a unique situation)... ideally we’d be in the mid-8% - mid-9% range
• Deal size in the $3M- $25M range. The majority of our deals are in the $4M - $15M range. On a price per square foot basis, we’re generally in the $50 - $150/SF range depending on the market, location, rents, tenancy, etc.
• Square footage in the 30,000 – 250,000 sf range.
• Tenancy: would prefer some national direct or shadow anchor and/or strong regionals; like, but don’t require grocer/drug anchors.
• Demos: we’ll accept lighter demos in terms of smaller secondary/tertiary markets, but we’d like to see income levels above $45,000 on an average, with home values above $100,000.
• For grocery stores we generally require sales to be above $300/sf and a base rent-to-sales ratio below 2.5%