WHO WE ARE
We at Wharton Realty Group strongly believe that the future of the real estate business will provide an unparalleled success to any other industry. Our diversified portfolio consists of shopping centers and office buildings, providing space for over one thousand tenants across the country. This diversity allows the company to take advantage of economies of scale which plays an integral role in any prosperous venture. The corporate strategy, formulated to maintain and develop Wharton Realty as a premier real estate company and provide the finest working environment for all tenants has changed little over the last decade. This strategy has proven to increase the value of our portfolio and satisfy shareholders.
Looking toward the future the company is preparing for many technological, environmental and regulatory changes that will force the company to continuously adopt new strategies to conquer the unpredictability of the marketplace. We believe the most critical success factor in this industry is the ability to remain open-minded and flexible despite the overwhelmingly rapid rate of change we are constantly confronted with. Our highly qualified staffs is committed to the principals and standards of our founders and are proud to share in the accomplishments Wharton Realty has achieved over the years.
Wharton Realty Group, Inc. has been in the acquisition/property management business for over thirty (30) years. During that time, we have achieved tremendous success with both acquisitions and property management. Within the past several years we have acquired over Twenty (20) properties in Twelve (12) states with a current total portfolio of over thirty (30) properties. Wharton Realty Group, Inc. presently ownsover six million square feet (6,000,000) of office and retail space on the East and Southeast coast. Our most recent transactions have been Rivertowne Commons in Oxon Hill MD and the Target and Costco anchored Seaview Square in Ocean NJ. We are also excited about closing several new properties within the next few months currently under contract.
The corporate strategy entails purchasing sites below replacement cost with the goal of attaining attractive yields for our investors. Our acquisition team is continuously traveling across the country seeking new market opportunities. Our retail clients include Wal-Mart, Home-Depot, Lowe's, Publix, Kroger and over 1,000 others. Our leasing team has built a strong retail base with many long lasting relationships. This enables WRG to maintain a strong occupancy rate in almost all of our centers.
We take pride in the fact that we have been successful in rehabilitating several of the buildings from financial loss to become very profitable. Our very strong leasing capability has led us to obtain a portfolio with a 98% occupancy rate.
Daniel I. Massry founded Wharton Realty Group over 30 years ago. His two sons, Isaac and Mark have joined him since. WRG is well respected in the market place by its private and institutional investors, financial institutions, brokers and retailers. The WRG team continues to strive and build WRG into one of the leading private Real Estate firms in the country.