Acquisition Multi-Tenant Building
Midwest acquired an 80% vacant, functional, multi-tenant property at a favorable basis that had recently been foreclosed on by the lender.
- Closed all cash.
- Managed all facets of a substantial building renovation and repositioning, including the installation of a new Class IV fire suppression system, as well as various exterior and interior office and warehouse improvements to make the property market ready.
- Managed all design, permitting, and build-out needed to stabilize the tenancy and secure seven new tenants for the vacant spaces.
- Occupancy rate has remained steady at 90%+ since 2014.