Acquisition Date: 12.30.2019
Building SF: 35,136
Land SF: 139,180
Located at “Main & Main” of the North Kent Valley, Lift successfully acquired this asset through a court appointed Receiver. The 35,136 SF Property is situated on 3.2 acres adjacent to South 212th Street, which is the central thoroughfare in Kent Valley. The acquisition was advantageous to the Lift portfolio given its proximity to two Fund owned assets. Lift saw great potential in the asset given its highly functional attributes: 16′-24′ clear heights, strong door ratios, truck maneuverability, and ample parking with over an acre of excess land.
Acquired off-market in December 2019, Lift executed an immediate renewal at the property, bringing the in-place occupancy at the Project from 44% to 70%. Given the unique tenancy and prime main and main location of the asset, Lift incorporated a one-of-a-kind art installation from a talented local artist, elevating the asset and adding a bright contribution to the surrounding neighborhood.
Lift executed a lease with an up-and-coming outdoor recreation company, bringing overall occupancy to 100% within just a few months of ownership. The asset was sold in May of 2021.