Flex Office & Self Storage
79,000 Square Feet
Mountain Center of Avon
- Property Management
- Commercial Brokerage
- GC & Construction Management
``Within twenty-four months, the property was stabilized and performing well``
Fortius Capital's collective experts found a diamond in the Valley's real estate rough.
Fortius Capital's investment services team successfully sold the property in 2012 for $10.1 million in less than three months. The new owners retained our team to manage the property from 2012 until 2016, when the property was listed for sale again. Our experts brought Mountain Center of Avon to market, summer of 2016, and closed a few months later for $15.3 million due to stabilization, enhanced tenant mix and value-add construction improvements to secure self-storage operator as tenant.
The self-storage occupancy went from 68% to around 90% and overall rates increased. The flex occupancy rate went from 72% to 89% with a much stronger tenant mix. The NNN’s went from $6.05 per sq ft to $4.75 while simultaneously adding a maintenance reserve.
Interested in investing with us?
Accredited investors seeking to diversify their portfolio
with real estate in mountain markets may consider investing.