Eastside Stageworks
Single tenant industrial building
Conyers, GA
131,000 sf
Purchased for $3,450,000
Sold for $14,500,000
Investor IRR – 34%
Property was vacant upon contract signing but a pending lease was negotiated with Warner Brothers subject to closing. Building was leased for a 5 year term which was renewed for an additional 5 years. Used by WB as a film stage and sold to an entrepreneurial investor after a 7 year hold.
Herc Rentals Facility
Single tenant truck maintenance/storage facility
19,000 square feet on 7 acres
Purchased for $4,925,000
Sold for $7,000,000
Investor IRR – 62% (deceivingly high due to the short term hold of the building)
Property was vacant at the time of purchase and quickly leased to Herc Rentals as their Atlanta truck fleet leasing and service facility. We contracted immediately with a family office out of Beverly Hills as a 1031 purchase. Total hold was 8 months.
Decatur Industrial
9 single tenant industrial buildings in the Decatur “in-town” market.
103,450 sf
Purchased for $3,400,000
Sold (5 buildings) for $3,800,000
4 remaining buildings are leased; rates have increased by 80%
Investor IRR – 27%
Portfolio 100% leased at time of acquisition. Sold 5 buildings to users and re-tenanted the remaining 4 over our hold period.
Roswell Business Center
6 single story flex buildings and 1 two story office building
196,000 sf
Purchased for $8,525,000
Sold for $16,750,000
Investor IRR – 16.57%
Property was 46% leased at acquisition and required extensive renovation capital and lease up. Renovated and renewed/re-tenanted 43 tenant spaces, bringing the occupancy to 80% over a 5 year hold period. Sold to a local investor with a 1031 exchange.