With over $1 million in capital improvements to Madison Corners, previously Seneca Square, TCRES assisted New Forum Partners in transforming a 40,682 sf retail center with a diverse mix of neighborhood friendly tenants
Occupancy at acquisition was 38%, with only 27% intending to renew
Strategy
Recognizing the need for fresh retail offerings in underserved but growing neighborhood and build on the South End Corridor and Park Road momentum
Providing a lower cost option to the competitive and supply strained South End
Results
Brought retail center from 38% occupancy in 2018 to 97% occupancy today
Increased in place NOI by 250% and beat proforma significantly
