Beckley CrossingLibby Corporation saw these challenges as an opportunity to reposition the property, improve cash flow and add value to the community. Taking advantage of the property's prime location, Libby re-leased the former Wal-Mart to T.J. Maxx and Hobby Lobby, and added a Kroger Fuel Center to its retail mix.
Libby takes a hands-on approach to its redevelopment projects. Prior to moving forward with a project or making an offer, the Libby team goes through an extensive review process to determine the viability of a particular project. Here's what you can expect when working with Libby:
- Strong relationships with an extensive network of brokers throughout the U.S. to identify prospective properties.
- Analyze, conduct research and evaluate the specific center and the surrounding marketplace (demographics, potential to attract tenants, etc.).
- Gather input from appraisers, current tenants and internal staff.
- A rigorous internal review of the risks, both positive and negative, of each transaction.
- A purchase decision based on fact - never on speculation or hope.