Canwood Business Center

 
 
 

TR Funding acquired this 25,000 square foot multi-tenant business park through a from a long term family ownership. A plan was put in place to change the uses from heavy automotive and manufacturing to clean professional office and retail/wholesale businesses. An extensive renovation was initiated for the complex which was completed within 6 months of acquiring the property. The repositioning of the property included:

  • Extensive renovation of buildings included, new roof, mechanical systems, replaced roll up doors with store front glass, install decorative canopies, complimentary landscape and signage and replaced parking lot.
  • Replaced automotive and wood working shops with art supply and artist studios, fitness and nutrition, wholesale retail operation.
  • Stabilized occupancy
  • Increased average rents from $.75/sf gross to $1.30/sf NNN
 
 
 

TR Funding is now planning the 2nd phase of renovations with the intent of maximizing the esthetics and revenue of the property.

Tony Principe