In 2010 Brock Development entered into an agreement with Preferred Developers, LLC to develop sites and ground lease the sites to credit tenants (primarily banks).
With our extensive knowledge of bringing land through the development process, and Preferred Developer's relationships with single tenant outparcel users– a perfect, mutually beneficial venture was formed.
The program provided a unique opportunity to achieve double digit returns based upon credit tenants (primarily bank leases), which are highly valued, easily financed or sold assets.
Brock Development and Preferred created a pipeline of opportunities which the program developed, and sold in between 2010 and 2015 including sites for JP Morgan Chase Bank, TD Bank, PNC Bank, Starbucks, and Mattress Firm. Due to the banks slowing down expansion activities, Brock shuttered the program at the end of 2015. It was a very successful endeavor.