Lavery Court Business Center
TR Funding acquired this 40,000 square foot multi-tenant business park through a bank trustee sale and closed the escrow within 30 days on an all cash basis.
An extensive renovation was planned 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, sky lights, mechanical systems, roll up doors, landscape and trash enclosures, exterior and interior paint, ADA restrooms and access, signage and paving.
- A condominium map was recorded on the complex allowing the sale of individual units to users.
- Pre-sold all units during renovation period and closed escrows upon completion of condo map.
- Set record prices for small industrial units sales in region.
