1000 W. Crossroads Parkway

Project Size

72,000 SF

Project Type

Acquisition Multi-Tenant Flex Building

Opportunity

Midwest acquired a 67% vacant, recently developed, multi-tenant property at a substantial discount to replacement cost. The property had been recently foreclosed on by the construction lender, lacked perpetual access due to expired access agreements, and was over 60% raw shell building space.

Value Added

• Closed all cash.
  
• Secured proper utility and access agreements to the property during the due diligence period through a laborious negotiation process with multiple parties.
  
• Brought stability and revitalization to the property by evicting a defaulted tenant, extending and expanding other tenants’ leases, and securing multiple new tenants at the property within one year of closing.

• Maintain 90%+ occupancy since initial stabilization.
  
• Managed all design, permitting, and build-out processes for five different tenant requirements.