Multi-Tenant Industrial Warehouse Acquisition
Acquisition: $14.9M in December 2015
Disposition: $22.5M in October 2019
46-month Hold Period
Roosevelt Business Park Phoenix
30.1% Annual Investor Return
BUSINESS PLAN
Increased curb appeal with new painting, landscaping, and freeway signage, rebrand park under new name (Seventy5 Business Park) and new signage program, added freeway billboard sign, upgraded mechanical equipment and roofs, and converted some units to full HVAC. Converted leases from gross to triple net to shield landlord from increased property taxes and operating expenses.