We acquired this ~16,000 square foot medical retail building in 2013. The building is currently 100% occupied by four tenants and is a long-term hold for ownership.
We acquired the asset in 2013 with the goal of thoughtfully updating the physical asset and efficiently operating the property to provide a great location for our tenants and generate long term value for ownership.
The property was acquired from a previous partnership that had owned the building for 15+ years. Since 2013, we have focused on maintaining the physical asset – repainting and refinishing the exterior walls, roof accents, and exterior entrances, resealing and striping of the parking lot, enhancing property landscaping, and improving building security lighting. We recently completed a renovation of the building’s signage and coordinated updated signage with our tenants to enhance visibility along Hwy 281 and the adjacent roadways.
Our goal is to create a building that operates efficiently— to provide low operating costs for our tenants while providing an improved location for their respective businesses. Over the course of our ownership, we have kept occupancy at 100% and have prioritized finding new tenants that add to the collegial working relationship between our medical and dental tenants.
Overall, the business plan has focused on thoughtful and efficient management and maintenance of the physical asset to enhance the experience and value proposition for the building’s medical and dental tenants. Through this plan, we have strived to create a property where our tenants can thrive for the long term. This continues to be a long-term hold for ownership.
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