Robertson Road was acquired in 2009 as a 85.527 sf plaza. The transaction was structured utilizing a combination of VTB, debt, and equity to increase the tax advantage of the investment. The plaza was under-managed and tenanted with under-performing tenants in a relatively strong retail node. A comprehensive re-tenanting program is under way which involved the purchase of an additional small adjacent parcel which permitted the construction of a Rexall drug pharmacy, a medical clinic, the expansion of the existing grocery store, and the replacement of weaker tenants with national brands. The complete re-positioning of the center is expected to be completed in early 2014, with significant value enhancement for the investors.
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Bells Corners West
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