Distressed Office Conversion
- Purchased a five-building 577,000 sf, 25-acre office park well below property replacement cost
- Purchased with a forward lot purchase agreement with a national homebuilder for majority of the property
- Existing in-place cash flow to support entitlement and redevelopment efforts
Investment Themes:
Potential change of use from low-demand asset to high-demand, undersupplied product type