US Properties Group acquires value-add anchored community centers in growing mid to small markets. Our ability to UPCYCLE real estate has created a portfolio which now includes more than 4 million square feet in key growth markets across the country.
- “Renovating Real Estate… Revitalizing Communities.”
- Focused on “up-cycling”
- Currently in 9 States
- Ground up and redevelopment opportunities
- Acquisitions of over 750,000 SF / $ 75 million of retail per annum.
What We Buy:
- Community, Regional and Lifestyle Centers
- Minimum of 135,000 SF or 15 acres
- $ 2.5 million to $ 500 million
- All cash at closing
- Primary, Secondary and infill markets preferred, trade areas of 60,000+ within 5 miles
- Midwest, Southeast geographic areas
- Greater than $50,000 household income in a three mile radius
- Vacancy of at least 20% and/or 5 to 20 acres immediately developable land
What We Have Acquired
Originally, US Properties Group acquired a substantial portfolio of community shopping centers from Glimcher REIT.
USPG purchased two centers in December 2013 Cox Creek Shopping Center in Florence, AL and Suwanee Crossroads in Suwanee, GA each with tenants that include national and regional businesses. We acquired and disposed of over one million square feet in 2012 and 2013.
USPG added 500,000 SF or retail space to USPG’s portfolio in 2014-2016. Acquisitions in MI and PA increased our footprint to 10 States.
USPG acquired a vacant K-Mart re-development opportunity in MI, a 300,000 SF premier lifestyle center in PA with tenants including DSW, Victoria’s Secret, J. Crew, Carter’s, and White House Black Market.
NNN tenant leases, sold in 2014 including LA Fitness in Atlanta, Kohl’s at Minot Plaza in Minot, ND, and Lowe’s at Mill Run Square in Hilliard, OH in 2015.
Crossing Meadows in Onalaska, WI, and River Valley Plaza in Lancaster, OH sold in January 2016. In March 2016 USPG added The Streets of Indian Lake in Hendersonville, TN to our portfolio. In April 2016 Hobby Lobby at Minot Plaza, sold and in May 2016 TGI Friday sold at Shoppes at Morrow Station in Morrow, GA. The balance of Minot Plaza old from our portfolio in June 2016. Regal Cinema sold at Streets of Indian Lake in July 2016 and Arby’s at Bechtle Crossing in 2016.
In May 2018 Mill Run Square, Hilliard, OH sold to Equity, LLC. In June 2018, the Red Robin parcel sold at Streets of Indian Lake. In August 2018, the Buffalo Wild Wings parcel sold at Streets of Indian Lake, Hendersonville, TN. In November 2018, the Olive Garden parcel sold at Bechtle Crossing in Springfield, OH and the Long Horn Steak House sold at Shoppes at Montage, Moosic, PA. The Wal-Mart parcel at Village Plaza in Augusta, GA sold in December 2018.
January 29, 2019, U.S. Properties Group sold the main anchor stores at East Pointe Plaza in Marysville, OH – at the current time we are retaining the Monro Muffler/Brake parcel at the center. February 22, 2019, the Monro Muffler/Brake parcel sold completing the total disposition of East Pointe Plaza. August 1, 2019, The Wendy’s, and Huntington National Bank parcels sold at Delaware Community Plaza, Delaware, OH. September 20, 2019, the Taco Bell parcel sold from Shoppes at Morrow Station 5, Morrow, GA.
Former Mimi’s Café parcel at Streets of Indian Lake, Hendersonville, TN sold January 22, 2021, to Chase Bank. The Electronic Express parcel at Cox Creek in Florence, AL sold September 1, 2021.
The final out parcel at Bechtle Crossing in Springfield, OH, sold to Panda Express, February 25, 2022. Village Plaza in Augusta, GA sold from the USPG portfolio on March 4, 2022. Shoppes at Morrow Station 5, Morrow, GA the out-parcel building currently occupied by AT&T sold from the USPG portfolio on March 29, 2022.
April 8, 2022, an out parcel by the main entrance at Delaware Community Plaza, Delaware, OH sold to Heartland Bank. April 11, 2022, an out-lot parcel sold to Dave and Busters at the Shoppes at Montage, Moosic, PA. April 28, 2022, the building and lot at Shoppes at Morrow Station 1 currently occupied by Atlanta Bread, The Vitamin Shoppe and Verizon Wireless sold to Mastery Rise.
August 12, 2022, Cox Creek Plaza, Florence, AL was sold from the USPG portfolio.
August 15, 2022, Shoppes at Morrow Station 5, Morrow, GA the Goodwill building at the center was sold.
USPG currently has tenant relationships with Dick’s Sporting Goods / Field & Stream, Harbor Freight, Ashley’s Furniture, Kohl’s, PetSmart, Marshalls, TJ Maxx, Hobby Lobby, Big Lots, Belk Department Stores, Five Below, Maurice’s, PetSmart, Dollar Tree, Limited Brands, DSW, and Wal-Mart.
With the ongoing success of our leasing and property management teams and new construction projects in 2022 and 2023 – we look forward to additions to the USPG portfolio and assets into the future.