Transaction Value:
Asset Class:
Representation:
Premium Capital Resources successfully completed the acquisition of a 63-acre land parcel, navigating the entire entitlement process to secure approval for constructing 906,000 square feet of industrial property. Throughout this venture, we actively engaged with the township, adjusted layouts based on feedback from national leasing agents to align with potential tenants' needs, and strategically negotiated the purchase of an additional 21 acres from a neighboring owner. This expansion not only added significant value but also enhanced the overall layout of the property.
Following these strategic moves, we progressed through the approval stages and successfully sold the property for $27,515,000, or $30.37 per buildable square foot, within less than a year. This resulted in an outstanding 50.58% IRR return to our investors.
