Intrinsic Value

Purchase price below comparable prices in the market and significantly below replacement cost. Proforma capitalization rate is 100 basis points above comparable sales.

Upside Potential

Below Market Rents – Market surveys suggest the property rents are $2.00 to $5.00 per square foot below comparable property rents, providing the opportunity to increase revenue as leases expire.

Property Fundamentals

Strong Location – Well situated in a growing residential and commercial community accessed by major roadways and high daily traffic counts. Household income in the area is over $55,000 and demographics are trending upwards.

Stable Tenancy – 100% occupancy at acquisition. At least 98.5% occupancy in each of the three years preceding acquisition.