The 341 N Maitland suburban office building
has 45,000 square feet with 23 spaces located in Maitland, Florida. The property is well located within walking distance of downtown Maitland and was 63% occupied at the time of the acquisition, with in-place rents $4.00 below the market. The re-positioning of the property was focused on cosmetic upgrades to the interior common areas, exterior landscape and parking lot upgrades and capital used to prepare the vacant spaces for marketing. It was sold at 100% occupancy.
* SQUARE FEET: 45,000
* ACQUISITION DATE: December 2017
* ACQUISITION PRICE: $5,250,000
* RENOVATION COSTS: $500,000
* DISPOSITION PRICE: $7,000,000
* DISPOSITION DATE: July 2022