•Value Add Strategy: Short term leases give the next owner the ability to increase rent to market rate.
• Average rents in the building are currently $2-$3/SF below market w/ 7,000 SF vacant - see rent roll on page 2.
• Owner User Opportunity: Ability for a business owner to occupy 5,000 – 10,000 SF by the end of 2024 while still having stable income from the remaining two suites in the building.
• High Barrier to entry Submarket
• Low Vacancy and Strong Rent Growth
• Easy access to all major throughfares
• Hard to find small bay industrial space off Sheridan & Ralston Road
• New carpet and paint in the office space
• Drive in loading
• Newly renovated building with new façade and asphalt
• Easy access to all major throughfares
Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."
Why are Real Estate Incentives Important and to Whom?
"Incentives" are vital today and in the future because:
U.S. Public: Many incentives focus on job creation and Affordable Housing
Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.
