Acquisition and Building Addition
Midwest acquired a newer and very functional building in a solid market with a growing credit tenant.
- Increased anchor tenant’s space by adding onto the property in exchange for a long-term lease commitment.
- Converted anchor tenant’s lease from gross to net.
- Managed all construction of the 26,000 SF building addition.
- Refinanced property with a long-term, non-recourse loan upon completion of construction.
- Further expanded anchor tenant into the entire building and extended their lease 11 more years.