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.
$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