News + Updates
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In 2019, we recognized a tremendous opportunity to acquire a distressed center in Logan, Ohio. Logan Commons is the perfect example of how we leverage our expertise and relationships to add significant value to an overlooked center.
At Midwest Retail Properties (MRP), our real estate journey didn’t take the conventional path. Our approach was not grandiose or ostentatious; it was practical, rooted in the daily needs of small-town communities. This article unveils how the seemingly unsexy yet foolproof model of focusing on the daily needs of small communities became the cornerstone of our success.
As MRP ventures into new initiatives, our current achievements play a crucial role in shaping our long-term vision. By uncovering a huge opportunity in an untapped market ahead of other players, we are uniquely positioned as the expert for scaling in small towns.
In an era of economic uncertainty, small towns are proving their resilience by leveraging unique strengths. Amidst the shifting landscape, Midwest Retail Properties (MRP) sheds light on 5 compelling data points, backed by credible sources, that underscore the enduring vitality of small town economies:
Small towns offer distinct advantages for the success of essential service businesses. Unlike the saturated and competitive metropolitan markets, small towns have a reliable customer base for daily necessities. These businesses enjoy less competition and attract customers as far as 60 miles away.
As small towns across America continue to experience growth and revitalization, commercial real estate investors have a unique opportunity to capitalize on this trend. “Opportunities increase in suburbia and rural markets as brands look to expand outside of urban areas,” explained MRP’s VP Real Estate, John Cusumano. “Modernizing and enhancing retail strip centers in small towns attracts these high-quality brands to expand their footprint in this overlooked asset class.”
These property enhancements will boost value for retail real estate tenants in small towns, ensure your investments remain competitive in today’s market, and maximize returns.
The International Council of Shopping Centers (ICSC) conference is one of the most highly anticipated events in the commercial real estate industry, and this year, MRP is thrilled to announce our attendance. As experts in Walmart shadow center real estate, our participation at ICSC promises to bring valuable insights and opportunities to businesses ready to grow in small-town America. We look forward to meeting you to identify every opportunity for growth with MRP!
Our Wal-Mart Shadow Center strategy focuses on modernizing an overlooked shopping experience in rural America. The goal is bringing both national brands and local businesses into Wal-Mart anchored shopping centers in communities across the country. The model is working and the MRP footprint is rapidly expanding because of better property management support and expertise in small towns. The latest example? A 5 Below Grand Opening in Jacksonville, Alabama.
ST. LOUIS, MO – MRP Capital Group announces its Non-listed REIT has acquired a $117 million portfolio of 27 Walmart-Anchored shopping centers. The properties, located in small towns, total more than 842,000 square feet and are located across nine states. The portfolio was purchased by the MRP Flyover Real Estate Investment Trust, Inc. on May 16, 2022. The REIT has acquired 35 Walmart Shadow Centers, totaling $140 million, since its inception on April 1, 2022.
MRP Capital Group is the largest owner and operator of Walmart Shadow Centers in small-town America. Their total portfolio contains over 100 properties valued close to $350 million.
MRP Capital Group is a St. Louis-based private equity real estate firm focused on modernizing the shopping experience in small-town America by consolidating the Walmart-Anchored shopping center asset class. MRP Capital Group’s current Walmart Shadow Center portfolio is comprised of 2.6 million square feet, including 100 properties across 26 states. To learn more about the company’s strategy, visit www.mrpstl.com.
MRP Capital Group announces the close of MRP Flyover Fund, LLC – the company’s first traditional fund. The fund launched in September 2020 and closed on July 2nd, 2021. It was fully committed and deployed at that time. The fund acquired 42 properties, totaling 950,000 square feet, across 23 states. The total acquisition value was $105 million.
The fund solely acquired retail strip centers directly next to high-performing Walmart Supercenters in small towns across the U.S.