Broad Street Realty, Inc. (OTC: BRST)

Broad Street Realty, Inc. focuses on owning and managing essential grocery anchored and mixed asset properties located in densely populated technology employment hubs and higher education centers in the Mid Atlantic, Southeast and Colorado markets. As of December 31, 2024 the company owned 15 properties, including 12 in the Mid Atlantic region and 3 in Colorado, comprising approximately 1.9 million square feet of leasable space. In addition to property ownership, Broad Street Realty provides commercial real estate brokerage services for its own portfolio and for third party office, industrial and retail clients.

Broad Street Realty generates revenue primarily from rental income generated by its retail and residential properties and from fees earned through its brokerage business. Retail lease payments constitute the majority of the company’s income, supplemented by residential lease revenue from the student housing component of the mixed use developments. Brokerage fees are received for leasing, property management and related services provided to both affiliated and unaffiliated tenants.

The company operates through the following segments.

• Single Reporting Segment: The company engages in owning, managing, and leasing essential grocery anchored and mixed asset properties and provides commercial real estate brokerage services.

Broad Street Realty positions itself as a competitive player in the retail real estate sector by concentrating on necessity based tenants in high traffic, high visibility locations near technology hubs and universities. The company faces competition from a broad range of real estate investors, including large REITs, private equity funds, banks and insurance companies that may have greater capital resources. Its advantages stem from a targeted tenant mix that includes essential grocers and service providers, long term lease structures with anchor tenants, and a proactive approach to lease renewals and tenant improvements that helps maintain high occupancy and steady rental growth.

The company’s customer base consists primarily of necessity oriented retail tenants and student housing residents. Retail tenants include grocery chains such as Dollar Tree, Food Lion, Aldi and New Grand Mart; pharmacies and convenience stores like CVS and Walgreens; fitness centers such as Planet Fitness; and service providers including the United States Postal Service, Arc Thrift Stores and various local businesses. The residential component of the mixed use properties is leased to students attending the College of William & Mary in Williamsburg, Virginia.