Independence Way 1 Independence Way 2 Independence Way 3 Independence Way 4
Situation/Challenges
  • Consists of 2 four-story buildings on 16+ acres
  • 45.7% combined occupancy at closing
  • Significant TI/LC facility needed to improve and market the space in order to bring the property up to stabilization
  • One of the buildings is less than 15% occupied and the sponsor is marketing the space to large, long-term tenants
Solutions/Highlights
  • Structured TI/LC facilities totaling over $4.6 million
  • Sponsor has invested a significant amount of capital improvements to the property prior to this transaction
  • Properties are ideally located as local sub-market is experiencing lowest vacancy rates in over 15 years
  • Non-recourse
  • 5-year term plus extensions