Stabilized Office I...
 

Stabilized Office Investment Opportunity | East 86th Street Office Park  

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Alex Davenport
(@alexdavenport)
New Member
Joined: 11 months ago
Posts: 1
13/06/2019 5:27 pm  

Hey guys I went live with this offering on Tuesday (June 11th). See the attached OM for more details but to summarize, this office park is 51,691 SF and was developed in 2001/2002 by the current ownership. It is currently 95.5% occupied and has a 17-18 year average historical occupancy in excess of 90%. Additionally, 60% of the tenancy has occupied their current space since 2003, both of which just renewed for another 5 years proving their commitment to the space. With a brand new roof on 60% of the portfolio and recent 5-year renewals by the two anchor tenants, this is an extremely stable, risk-adjusted investment with minimal near-term rollover & capital risk, in an asset which has outperformed it's submarket since being developed 18 years ago. Our asking price is $6.8M or a 7.54% cap rate on in-place. I have not set a formal call for offers date yet. Don't hesitate to reach out to me with questions or to discuss in greater detail. 

I'm always available on my mobile at (317) 556-3676 and my email alex.davenport@colliers.com.

Thanks!

-Alex

 


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Barrett Key
(@barrettkey)
Member Admin
Joined: 2 years ago
Posts: 13
13/06/2019 5:40 pm  

Here is the attachment that goes along with the above post!


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