Capital Improvements and Business Plan
Immediately upon closing, RK Properties will implement a property improvement program and an aggressive marketing campaign. Due to the minimal rehab required at the property, the primary focus of the business plan will be to strengthen operations and improve rents by repositioning the tenant base. Additionally, the property is in close proximity to other RK properties and by collaborating with other RK assets which offer different styles of product and price points, Northern Greens will receive a high volume of traffic from potential tenants looking for a different product.Improvements to the property will include new exterior paint to portions of the buildings that require it, upgraded signage and roof repairs.
Location Description: Phoenix, Arizona
Northern Greens is located in Glendale, Arizona on 61st Ave and Northern Ave.The area is a mix of single family homes, multifamily projects, and commercial/industrial developments with a middle income profile. The property benefits from its location just off 59th Ave which is a major north south corridor and Highway US 60, a major manufacturing and warehousing employment corridor. The property is located near several employment drivers such as Northern Crossing Shopping Center which includes a Lowes, PetSmart, Wells Fargo and Chase Banks and is also within 5 miles of the Glendale Sports and Entertainment District which Features an NFL Stadium and NHL arena. The property also benefits from close proximity to several educational institutions like Glendale Community College, Glendale High School and Glendale Elementary