Land, Retail, Office & Investment Real Estate Acquisition Criteria
Westco develops and acquires anchored neighborhood, community and power retail centers in the Western United States.
Following is a summary of general investment criteria:
Information Needed for Preliminary Evaluation:
• Price
• Site Plan: Identify tenant locations, if possible
• Map: Information on trade area competition and demographics
• Rent Roll and Lease Summaries
• Sales information for past three years, details on vacant space and
pads
• Operating Expenses: CAM, Taxes, Insurance, Other
• Loan(s): Name of lender (original and current loan balance), Interest
rate, amount of loan payment, original amortization term and due dates, lock-in
and pre-payment provisions, terms and cost of loan assumption.
Size of Deal
Generally, Westco Development is interested in acquiring anchored centers with
minimum GLA of 75,000 square feet and a minimum value of $7 million. However,
these parameters are readily adjusted to account for any value-added opportunity
component.
Type of Property
Westco Development is interested in anchored retail centers, including neighborhood,
community and power centers. The preference is for grocery anchored projects,
but other types of anchors will be considered.
Deal Structure
The preference is for all-cash transactions, but properties with existing debt
will also be considered, and other creative structures can be considered,
such as those designed to defer taxes. Westco Development joint venture partnerships
will be considered on a case by case basis.
Location
Westco Development’s strategic geographic focus is the Western states
with a current emphasis on California. The company will consider properties
outside of this area, especially if the investment represents a significant
acquisition or is a portfolio of properties that would give Westco Development
an immediate presence in a new market.
Westco Development / Eastco Development
55575 Medallist Drive
La Quinta, 92253
Phone: (760) 564-0789 • (760) 574-2625
Email: