The $1.265 million outstanding TIF Revenue bonds for the Brentwood Pointe shopping center were recently given an ‘A-’ rating, according to Fitch Ratings, the Fort Mill Times reports. The report states the shopping center is anchored by Dierbergs Markets,
and other tenants include PetCo, Office Max, and DSW Shoe Warehouse. There are 16 total tenants.
Among factors driving the ‘A-’ rating are:
- Strong financial performance in the shopping center
- The fact that the district continues to prepay principal ahead of projections
- Favorable economic conditions in the market area
It describes Brentwood as “a small suburban community in St. Louis County (rated ‘AAA’ by Fitch) approximately 1.5 miles from downtown St. Louis.”
It notes that “wealth levels in the city are above average with per capita income 176 percent of the state and 160 percent of the national norms. Economic development in Brentwood has been steady and the addition of a 210 room hotel scheduled to be completed in 2014 is expected bring additional related businesses to the area.”
Read the complete report in the Fort Mill Times.