Address: 1500 Enterprise Dr
Year Built: 2015
Building SF: 100,800 SF
Acquisition Date: January 2022
Projected Hold Period:
4.0 Years
Multi-tenant light industrial project comprised of three buildings and 24 individual units
- Without any new for rent product in the market there is a clear path to raise rents;
- The prior owner lived on site and was the property manager that developed relationships with the existing tenants and has not aggressively pushed rents as short term leases roll;
- Tenant demand significantly outstripped for-rent supply by a substantial amount since acquisition;
- Without any for sale condo product in the market, this site represents the only option for flex industrial condominiums.
