
In the acquisition of the Barstow Shopping Center, Realty Mogul will be partnering with established real estate players in the market - specifically, the co-sponsors U.S. Realty Partners and Compass Acquisition Partners.
U.S. Realty Partners
U.S. Realty Partners ("USRP") is a real estate investment company specializing in the acquisition, asset management, development and redevelopment of high quality retail properties located in strategic metropolitan areas of the western United States.
USRP focuses on anchored retail properties in markets with strong demographics, high barriers to entry, and achieve competitive risk adjusted returns for our investors and partners. Its team takes pride in its vast shopping center experience, extensive market knowledge, disciplined underwriting and excellent history of efficient execution.
Compass Acquisition Partners
Compass Acquisition Partners ("Compass") is a privately capitalized real estate investment firm focused on the acquisition of commercial real estate properties in select markets throughout the western United States. Compass has successfully executed an investment strategy based on a disciplined acquisition effort, an efficient renovation process and strong property management through their operating partner, Cirrus Asset Management. Its current portfolio includes over 4,300 apartment units and several retail and industrial properties, with a combined value of approximately $415 million.
Its managing principal, John Walsh, is a seasoned real estate professional who is the driving force providing overall direction to Compass and managing investor relations. He leads a team with experience in acquisitions, finance, asset management and property management. John has more than 30 years of experience in the successful execution of an opportunistic investment strategy that emphasizes acquisitions of well-located properties and value maximization through intensive property management.
Compass utilizes a highly proactive and disciplined investment approach. Markets with favorable demand characteristics such as job and population growth, demographic shifts and positive legislation are pursued. In addition, markets with supply constraints receive more favorable underwriting. Markets with signs of oversupply such as surplus land, changes in zoning and increases in building permits are avoided.

Address: | 9440-9680 Hageman Road Bakersfield, CA 93312 |
Year Built: | 2001-2003 |
Current Occupancy: | 92% |
Units/Suites: | 22 tenant spaces |
Net Rentable Area: | 102,836 square feet |
Parking: | 666 stalls 6.5 spaces per 1,000 square feet |
Access: | Hageman Road and Calloway Drive Two additional access points on each street |
TENANT NAME | SQUARE FOOTAGE |
---|---|
Save Mart | 58,000 |
Fitness 19 | 7,200 |
Baja Fresh | 3,010 |
Juicy Burger | 2,885 |
RJ's at Riverlakes | 2,500 |
Tae Ryong Taekwondo | 2,260 |
My Kid's Dentist | 2,000 |
Wells Fargo | 1,925 |
Teaze Salon | 1,885 |
UPS | 1,778 |
Quick One Chinese | 1,500 |
Papa John's | 1,495 |
Japanese Restaurant | 1,490 |
Happiness Nail | 1,463 |
Cubano Cigars | 1,360 |
Sport Clips | 1,275 |
Angel Food Donuts | 1,268 |
Supercuts | 1,202 |
Jane's Jewelers | 1,170 |
Star Threading | 1,170 |
T-Mobile (cell tower) | 0 |
The anchor space was constructed in 2001, and the in-line shop spaces were built shortly after in 2002 and 2003. The property has a total of 22 units with 20 tenants currently occupying spaces ranging from 1,170 – 58,000 square feet. The property also has a cell tower and Walgreens which pays CAM reimbursements. Walgreens is a shadow anchor and is not part of the collateral for this transaction. The property has been well-maintained and there is minimal deferred maintenance. Occupancy at the property has also been consistent, with historical occupancy of 97.4% for the past 10 years.
Anchor/National Tenants
- Save Mart is a national supermarket chain headquartered in Modesto, CA with 226 stores in operations. Occupying 56.4% of the space and providing approximately 33% of the rental income, Save Mart’s lease runs until 2026 and includes 7 five-year options thereafter. There are two 10% rental increases still remaining under the existing lease (to occur in 2016 and 2021), and then each five-year renewal option would also include a 10% rental increase. While Save Mart is not required to report sales, the same-store sales are reportedly up 2% year over year.
- Fitness 19 is a national fitness chain that offers an "affordable, family-friendly" facility with state-of-the-art cardio, strength and free weight equipment. Founded in 2003, Fitness 19 has 147 locations in 23 states across the US.
- Baja Fresh is an "all-fresh, traditional" fire-grilled Mexican restaurant chain founded in Newbury Park, CA in 1990. Since that time, they moved their headquarters to Irvine and the company has grown into a franchisor with 256 stores in 29 states throughout the U.S., as well as Dubai and Singapore.
- Papa John's is the fourth largest take-out and delivery pizza restaurant chain in the US with headquarters in Jeffersontown, Kentucky. There are more than 4,000 locations internationally and more than 3,200 of those store located in the U.S.
- UPS (UPS Store network) is the world's largest franchisor of retail shipping, postal, printing and business service centers. With nearly 4,700 independently owned locations, there are stores throughout the U.S., Puerto Rico and Canada.
- Sport Clips is a sports-themed hair-care franchise for men and boys with more than 1,200 stores across the U.S. Established in 1993, franchised in 1995 and headquartered in Georgetown, Texas, Sport Clips has been ranked by Entrepreneur Magazine as one of the top 20 "Fastest Growing Franchises" and in the top 40 of the "Franchise 500".
- Supercuts is a hair salon franchise with more than 2,000 locations throughout the US. Founded in San Francisco in 1975, the company is a wholly owned subsidiary of Regis. Regis is the world's largest hair salon chain with more than 11,000 salons and is listed on the Fortune 1000. There are also Supercuts franchisees in the UK that are owned by Regis.
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