5300 Katrine Avenue

Project Size

109,000 SF

Project Type

Acquisition of Leased Single-Tenant Building

Opportunity

Midwest acquired a property leased shorter term to a global manufacturing tenant from a bankruptcy auction at an attractive basis in a highly-desired submarket.

Value Added

• Navigated complex bankruptcy auction and stalking horse process to gain control of the property.
  
• Fast-tracked due diligence to post over $300,000 non-refundable upon execution of the purchase agreement.

• Negotiated a complex 15-year lease extension with a lease guarantee from an international entity as part of tenant’s facility consolidation plan.

• Managed all facets of the design, permitting, and construction for a multimillion-dollar property renovation to make the property a secure, state-of-the-art, high-tech manufacturing facility.

• Sold the property to an institutional equity REIT at an attractive price point.