A 115 thousand square-foot, functionally obsolete operational headquarters (office) building built in the 1960s on a 36 acre site, with compelling re-development opportunities based on suburban US location.
A team of developers and investors was assembled to acquire the property, subdivide it and redevelop it into high – end residential (16 acres) and state-of-the-art office (20 acres).
Office space was leased to credit tenant under long term lease, which was sold to a European pension fund.
The average sales prices of the residential units are in excess of $1 million.
A 100 thousand square-foot surplus manufacturing facility on 4.5 acres in Canada, with a 75 year industrial history with various owners including a chemical company and aircraft parts, and luminous dials (using radio-active paint) manufacturers.
The sub-market was previously heavy industrial and was successfully being converted to mixed-use.
After extensive due diligence and through environmental testing, the property was sold to the leading retail/shopping center developer in Canada within a time frame required by seller/owner.