This 60,000+ SF Flex/Industrial Building was about 40% occupied at the time of Purchase. We represented a Buyer to purchase the asset, invest in capital improvements and fill the vacancy and sell as an investment. A strong leasing team was needed to source tenants and negotiate longer term deals with any existing tenants.
The Leasing Team was able to bring the occupancy to 100% in less than 12 months. The Purchaser of the property invested significant dollars to improve the property, provide improvements for new tenants as well as existing tenants.
The property was listed for sale and NavPoint secured a long-term investor and the Property was sold exactly one year and six days after initial acquisition.
List Price: $5,500,000
Sold Price: $6,920,000
Time on Market: 371 Days