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Building Details:

• Year Built: 1997

This is the sale of two office buildings and one big-box retail building in a single transaction. The retail building is fully leased while the office buildings were approximately 73% leased. The buyer's agent indicated that the buyer purchased the building based on an approximate 9.00% overall rate applied to the existing income. The seller was motivated to sell due to their need to pay pension obligations. However, the buyer's agent said the price was market oriented, considering that only distressed or semi-distressed properties are selling at the present time. The stabilization costs are estimated to be $1,520,000.