13400 Benns Church Boulevard, Smithfield, VA 23430 Gross Internal Rate of Return (IRR): 15.7%
Gross Return on Equity Multiple (ROE): 2.41x
Cohen Investment Group (CIG) purchased Cypress Run Plaza on May 18, 2015 for $4,200,000. Cypress Run Plaza is a Class A, 25,000 SF retail shopping center located in Smithfield, VA. The property has a strong customer base of local residents, including employees from the region’s dominant employer—Smithfield Foods.
During CIG’s ownership of Cypress Run Plaza, CIG was able to re-tenant with larger, more established businesses, like the addition of Riverside Physical Therapy. As a result, CIG achieved higher market rates, increased net operating income, and executed a disposition with favorable returns. CIG sold the property on January 10, 2023 for $5,500,000.
Please give us a call or send us a message if you have any questions or would like to learn more about investment opportunities at CIG.
(757) 490-1193
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