1370 Valley Vista
- 87,647 square foot office building in Diamond Bar, CA.
- Acquired REO from special servicer in October 2013 at 46% occupancy.
- Strategically located in a submarket with very low vacancy within a master-planned business park at the intersection of the SR-57 and SR-60 freeways.
- Business plan to increase occupancy and rental rates through completion of common area upgrades and construction of move-in-ready “spec suites”, emphasizing speed and convenience to attract small tenants in this small tenant-dominant submarket.
- Completed renovations to building restrooms and common areas, and implemented “spec suite” program to have move-in-ready small suites.
- Increased occupancy from 46% to 96%.
- Increased asking rents by 26% over 4 years of ownership.
- Sold property June 2019.