Walker Mill Center
Factual Information: 40,000 sq.ft.; 3,000 sq.ft. fast food pad, purchased by Addison Retail, LLC including MAG and the Peak Companies as co-managing members. Located at 1460 Addison Road South, Capitol Heights, MD.
- Acquisition and stabilization of property, 50% vacant at acquisition
- Turnaround retail project with extensive bad debt, vacancies, crime, poor tenant mix
- Active engagement with tenants to improve joint marketing
- Extensive negotiation with tenants who were delinquent to relocate or negotiate new terms.
- Re-tenanting effort including installation of national tenants and medical clinic. Case-by-case strategies ongoing to optimize center’s operations.
- Intensive management of physical plant to improve appearance