Property Type: 3 Building Class B Single Story Suburban Flex Office Park

Address: 5751 Copley Drive, San Diego, CA
Size: 102,000 SF
Acquisition Date: 3/2013
Disposition Date: 7/2015
Return Multiple: 1.8x
Occupancy – Going In: 73%
Occupancy – Current: 96%

Total Cap Ex: $480K

Business Plan
Asset was undercapitalized with multiple looming large tenant expirations. Execute a modest renovation, drastically improve the condition of the existing vacancies, aggressively market the asset to the brokerage community, extend all existing tenants and lease up the remaining vacancy to a stabilized level.

Results
Executed modest exterior capital improvement initiative, resulting in successfully negotiating the extension of multiple large existing tenants. Following an aggressive tenant broker marketing campaign, leased up the majority of the remaining vacancy. Business plan and disposition was completed within 28 months at a significant gain.

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