Tryperion acquired the 83,000 SF office building at 74% occupancy with a 10-year lease in place from a healthcare tenant (AA- credit rating) that included a “must-take” provision for the remaining vacancy within 3 years.
Investment Highlights
Improved management procedures to reduce operating expenses
Negotiated an early exercise of the anchor tenant “must-take” and sold in 2017 at 100% occupancy