Forest Hills Shopping Center

INVESTMENT HIGHLIGHTS
• Value add retail center
• 13% vacancy allows for significant upside through lease up
• Rents at Forest Hills are 34% below market, allowing for strong
upside through lease up
• Strong demographics
• 5-mile population: 82,807
• 5-mile HHI: $81,590
• Cell tower located on site with annual rental income of $157,000
provides new ownership the opportunity to sell at an aggressive
cap rate and lower their basis in the center
• Comcast recently renewed and new generator to the site showing
commitment to the center
• Extending their term until Dec 2033
• Comcast’s central switching and server gear location for the region
• Recently installed new generator as backup for the servers
• Comcast has occupied the center since 1991
• New TPO roof on 53% of the center, 20,736sf
• 10-year warranty on the new roof
• Significant parking lot upgrades to be completed prior to a closing
• New signage to be installed prior to closing