Retail Acquisition Criteria

Property Types:
ECL is seeking to purchase retail properties including neighborhood centers, power centers and lifestyle centers. Other types of retail assets will be considered on a case-by-case basis.

Location:
ECL is currently focused on investments in the greater Chicago area, however, assets that possess a unique and dominant location in smaller markets throughout the Midwest will also be considered.

Preferred Asset Characteristics:
ECL is focusing our retail investment activities on two different types of assets:

Core Investments - Retail centers that possess a dominant market position in supply constrained trade areas with deep demographics. These assets, often referred to as "core assets", possess strong credit tenants and have very stable, bond like cash flows. Typically, a core asset would have limited to no deferred maintenance, low tenant turnover and very strong sales and occupancy figures. ECL will consider assuming existing loans on core assets.

Value - Added Investment Opportunities — ECL will also consider retail assets that are strong candidates for repositioning through re-tenanting, financial engineering, environmental remediation or GLA additions, provided the asset is located in a strong retail location. These types of assets typically possess a unique opportunity for an experienced, well capitalized operator such as ECL to redevelop, reposition, remediate or recapitalize. Our experience allows us to creatively underwrite and structure value-added opportunities.

Investment Size:
Essex Capital, LLC has neither a minimum nor maximum size of deal, although we prefer assets that possess at least 20,000 sf of GLA or that are valued above $5 million of gross asset value.