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Multi-Tenant Retail

Client:

This client is a well-established owner of multiple properties. This property was acquired in 2019 shortly after construction was completed and subsequent to the lease up to tenants with a national footprint. This study focuses on only this building.

Result:

We began working with this client shortly after he acquired this multi-tenant property during the summer of 2019. The owner provided white box space, and the tenants provided all tenant improvements; thus, the values identified by the study would have been significantly greater had the property owner provided finished retail space.

Year 1 Depreciation Increase:
$828,728

Building Cost:
$3,333,650

Full Life NPV:
$193,223

Property Type:
Multi-tenant Retail

Type of Study:
Acquired

Facility Size:
6,324 sf

Developer Referral