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Kent Business Center
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94,000 sf office/warehouse
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| Investment Highlights |
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| Trinity acquired Kent Business Center in a joint venture with Apollo/VEF Advisors. The property’s vacancy at acquisition was 37%. A 30,000 square foot building of the three-building property was vacant. Trinity executed on a property repositioning and leasing program that improved the functionality and aesthetic appeal of the vacant building and other smaller vacant spaces. The vacant building was leased to two tenants, including a Fortune 500 electronics firm. |
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| The property was sold after a 3 year holding period to a San Diego-based real estate investment fund. Occupancy at re-sale was 91%. Kent Business Center produced a 21.2% project-level IRR. |
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