Reacquired the asset from distressed buyer to whom CPG originally sold it to at a 44% discount to the prior sale price
Capitalized on the opportunity of re-acquiring the asset at a time of perceived market risk, due to a pending 50% anchor tenant lease expiration, which had substantially driven down pricing
Increased occupancy to over 90% due to increased demand from the building and road improvements
Anchor tenant’s renewal resulted in the construction of a 10-story parking garage, replacing a one-level parking deck and consequently freeing up a four-acre development site for sale
