Southport Client ProfileBack to case studies
Main Street Capital Group, founded in 2003, is a Grand Rapids based real estate investment company that invests in regional retail properties – focusing primarily on projects in the Midwest. This young, growing company has over 15 properties in its portfolio with several more projects in the pipeline for future growth.
The challenge in this particular case was the financing package approved by the bank for this 400,000sf Wal-Mart Supercenter anchored development in Indianapolis, Indiana required that extensive pre-leasing goals be met in order to satisfy the banking constraints of the project. This meant that a considerable amount of a combination of pad sales, build-to-suit deals, and leases of in-line space needed to be complete in order to meet the project’s financing requirements.
After performing a thorough market analysis, writing a merchandising plan, and executing a targeted marketing approach, Scot exceeded all pre-leasing goals. The targeted approach to marketing the project to specific retailers identified through the analysis worked as planned.
“Scot diligently pursued a multitude of tenants for the Indianapolis project. He exceeded all leasing expectations we had and his insight and expertise were critical to its success. We will not hesitate to involve Scot in any future projects.‗Steven Adams, Member Main Street Capital Group
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