Industrial Business Park Acquisition
Acquisition: $7.5M in July 2016
Disposition: $14.6M in June 2021
60-month Hold Period
Arcadia Corporate Park Phoenix
40.3% Annual Investor Return
BUSINESS PLAN
Converted flex office units to low-finish warehouse, aesthetic upgrades included new exterior painting, parking lots repairs, new landscaping, and new pylon/monument signage, rebranded park as 1Forty3 Business Park; upgraded MEPs, and converted some units to full HVAC. Converted warehouse leases from gross to triple net to shield landlord from increased property taxes and operating expenses.