Boutique Office - Targeted Real Estate Equities LLC https://www.targetedre.com Tue, 30 Jan 2024 23:00:07 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 5950 Sherry Lane, Dallas TX https://www.targetedre.com/portfolio_type/sherry-lane/?utm_source=rss&utm_medium=rss&utm_campaign=sherry-lane https://www.targetedre.com/portfolio_type/sherry-lane/#respond Wed, 16 Mar 2016 18:38:06 +0000 http://invested.progressionstudios.com/?post_type=portfolio&p=133 5950 Sherry Lane Principals of Valorem led the speculative development of this class A office building in the Preston Center submarket of Dallas, Texas. Initially targeted to attract larger corporate tenants in and around the Dallas Metroplex, the principals quickly realized the benefits of a change in strategy. The property is located in a land-locked […]

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5950 Sherry Lane

Principals of Valorem led the speculative development of this class A office building in the Preston Center submarket of Dallas, Texas. Initially targeted to attract larger corporate tenants in and around the Dallas Metroplex, the principals quickly realized the benefits of a change in strategy. The property is located in a land-locked submarket and adjacent to affluent Highland Park. We adjusted strategies and targeted smaller tenants looking for office space in close proximity to their homes, the nearby Dallas Country Club and within close proximity to downtown and the highways that lead to the northern suburbs. The change in strategy lead to a quicker lease up pace and signed rents that were above initial underwriting. The property was sold at stabilization.

Acquisition Summary

All in Cost $32,325,000
Market Preston Center(Dallas,TX)
Square Feet 196,997
Projected IRR 20.5%
Realized IRR 22.3%
Holding period 4.3 Years

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]]> https://www.targetedre.com/portfolio_type/sherry-lane/feed/ 0 258 Elm Street, New Canaan CT https://www.targetedre.com/portfolio_type/elm-street/?utm_source=rss&utm_medium=rss&utm_campaign=elm-street https://www.targetedre.com/portfolio_type/elm-street/#respond Wed, 16 Mar 2016 18:35:14 +0000 http://invested.progressionstudios.com/?post_type=portfolio&p=127 Gulf 258 Elm Street, New Canaan CT The Principals of Valorem acquired this boutique owner occupied office building in an affluent suburb of New York City with the intention of subdividing the building for multi-tenant use. During our marketing we were able to identify a local bank that was looking for a new corporate headquarters. […]

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Gulf 258 Elm Street, New Canaan CT

The Principals of Valorem acquired this boutique owner occupied office building in an affluent suburb of New York City with the intention of subdividing the building for multi-tenant use. During our marketing we were able to identify a local bank that was looking for a new corporate headquarters. We signed a 10-year lease with the bank at rates above our initial underwriting.

Acquisition Summary

All in Cost $11,500,000
Market New Canaan, CT
Square Feet 29,500
Projected IRR 20%
Realized IRR 17.6%
Holding period 5 years – Projected

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]]> https://www.targetedre.com/portfolio_type/elm-street/feed/ 0 Westport View Corporate Center, Westport, CT https://www.targetedre.com/portfolio_type/active-den/?utm_source=rss&utm_medium=rss&utm_campaign=active-den https://www.targetedre.com/portfolio_type/active-den/#respond Wed, 16 Mar 2016 18:34:37 +0000 http://invested.progressionstudios.com/?post_type=portfolio&p=125 Westport View Corporate Center A two building, 80,000 square foot first class office complex with a highly visible and desirable location in Westport, CT. Principals of Valorem purchased this complex with the intent of turning it into a smaller tenant boutique building. Upon acquisition the property had 15 tenants, mostly local offices of national and […]

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Westport View Corporate Center

A two building, 80,000 square foot first class office complex with a highly visible and desirable location in Westport, CT. Principals of Valorem purchased this complex with the intent of turning it into a smaller tenant boutique building. Upon acquisition the property had 15 tenants, mostly local offices of national and regional companies. We were successful in buying out a large tenant and extending them long term in a smaller space. We then broke up the remaining space and leased to smaller local tenants at substantially higher rates. In less then three years we diversified the rent roll from 15 tenants to 28 and were able to exit the investment in less time and above our initial underwriting.

Acquisition Summary

All in Cost $27,362,834
Market Westport, CT
Square Feet 80,000
Projected IRR 14.5%
Realized IRR 18.8%
Holding period 2.6 years

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