The Shops at Chapman was a well-located retail center near Chapman University and the 57 Freeway. The property featured a strong mix of local and credit tenants and over 235 feet of frontage on Chapman Avenue. OneV Capital purchased the property after it was on the market for an extended period and had fallen out of escrow on multiple occasions.
Our strategy for this investment was to implement minor capital improvements, re-tenant the vacant suites, and enforce the shortfall in NNN collections that were not being charged by the landlord.
Sale and Return on Investment
After successfully completing the above leasing and capital improvements and enforcing the reimbursements due to the landlord, OneV capital listed the property for sale and was able to acquire an all cash, 1031 exchange Buyer.
The property closed escrow in just 13 days and resulted in an annualized ROI of approximately 102%.