Broad Street Realty is a small REIT that owns and manages grocery-anchored retail shopping centers and one mixed-use property with student housing. As of year-end 2024, Broad Street owned 15 properties totaling roughly 1.9M rentable square feet across four states, concentrated in the Washington-Baltimore metro area, Denver, Richmond, and Virginia Beach. The retail portfolio consists primarily of neighborhood and community shopping centers anchored by grocery stores and necessity-based retailers such as Food Lion, Aldi, and Shoppers Food Warehouse. These centers target daily needs — groceries, discount retail, fitness, healthcare, and auto parts. The one mixed-use asset, Midtown Row in Williamsburg, Virginia, includes 240 units with 620 student housing beds adjacent to the College of William & Mary, leased by the bed on roughly 11.5-month academic-year leases. Broad Street also runs a small commercial real estate brokerage business, representing office and retail tenants on lease and purchase transactions for both its own portfolio and third parties. On the retail side, Broad Street uses triple-net or modified gross leases, under which tenants cover most operating expenses, limiting Broad Street's cost exposure. Anchor leases run 10-20 years; smaller tenant leases typically run 5 years. Small tenants — those leasing under 10,000 sq ft — account for roughly 63% of annualized base rent, driving higher rent per square foot. Two properties are under active redevelopment with low occupancy, weighing on overall portfolio metrics.