This five-story project involved considerable lease management and a complete refurbishment of the lobby and common areas before offering it for sale.
Airways is a two-building industrial project near the Denver International Airport. When the largest tenant that occupied 265,000 square feet vacated the project, Pacifica was able to obtain a replacement tenant under a very favorable 10-year lease term that restored the project occupancy to 100%.
This is a two building multi-tenant project with various near and mid-term lease rollovers. Pacifica aggressively managed the rent roll by extending existing leases and finding replacement tenants as leases expired and tenants vacated. The project was sold at 100% occupancy.
During its ownership, Pacifica negotiated the buy-out of one of the two tenant leases to accommodate the growth and expansion plans of the other tenant. A complete re-structuring and 7-year extension to occupy the entire building was finalized before the property was sold.
This business park was acquired with some near-term rollover. Pacifica has released the vacancies with almost no down time to restore 100% occupancy in the project.
This three-story building with large floor plates (45,000+/- SF) is attractive to corporate tenants looking to consolidate operations on as few floors as possible. The former IBM/Skunkworks building constructed in the late 60s was stripped down to the exterior frame and completely re-built, including new electrical and mechanical systems. After the extensive remodel, two of the three floors were leased to J.D. Power & Associates as their corporate headquarters.
This Class A office building is located in the desirable Corona submarket of the The Inland Empire of Los Angeles, California. Pacifica acquired this property at a significant discount to replacement cost in 2015.
Built in 2006, the two-story office building offers flexible, efficient floor plans, high quality lobby finishes, and a very attractive setting in a master-planned
office and business park with a meandering stream, waterfalls and lake front gazebo. The building is 100% leased to ten quality tenants and offers a staggered rollover schedule.
Located in North Las Vegas, the property is 100% leased to two tenants – Cox Communications and Creative Light Source.
This is a four-story multi-tenant project in a suburb of San Diego, California. Pacifica corrected cosmetic construction flaws, negotiated and finalized construction disputes between seller and tenants, leased vacant space, and sold the property to Colony Capital as a stabilized 100% leased investment property.
This two-building project at the Long Beach Airport was purchased out of bankruptcy. The project was subject to a ground lease with 28 years remaining. One building was entirely vacant and the other had near-term rollover. Pacifica refurbished both lobbies and common areas, leased the vacant space, restructured and extended the existing tenant lease, and re-structured and extended the existing ground lease for an additional 30 years with the City of Long Beach before selling the project. This project was a venture with Investcorp International.
A heavily multi-tenant four-story office project that required extensive management of lease rollovers during the severe economic recession in 2008 and 2009.
This five-story Las Vegas suburban office building underwent a complete lobby and common area renovation. Pacifica aggressively managed a number of lease expirations and was successful in bringing the building to full occupancy prior to its sale.
This industrial/ distribution property in southwest Phoenix is 100% leased to Tharco Container, a wholly owned subsidiary of Boise Cascade.
This Phoenix industrial project was 70% occupied at the time of purchase. Pacifica was able to complete the lease-up to 95% and extend the leases of two significant tenants in the project.
The lobbies and portions of the common areas of these six-story and two-story multi-tenant office buildings were completed along with preliminary plans to construct an adjacent multi-story parking garage to this under-parked building prior to selling the property.
Pacifica acquired Westgate Office, which is adjacent to the NFL Arizona Cardinals’ University of Phoenix Stadium, from Wells Fargo as an REO and totally vacant. An adjacent 2.58 acres of undeveloped land was part of the negotiated purchase.
This three-story office building is leased to three tenants. Pacifica implemented the construction of a new parking plan that added 53 parking spaces, which improved parking circulation and tenant satisfaction.
This three-story office building, located within a master-planned community, was purchased at substantially below replacement cost with only 65% occupancy. Pacifica increased occupancy to 100% by the time the property was sold.
This 121-room hotel was completely refurbished including lobby, breakfast room, exercise facility, and all guest rooms.
Landmark is a 60 tenant multi-office project in Orange County. Through intensive rent roll and operating cost management Pacifica extended, consolidated and re-tenanted a large portion of the tenant roster to create added value. All lobbies and common areas of the five-building project were completely refurbished. This project was a venture with Investcorp International.
Pacifica aggressively leased existing and rollover vacant space including the re-structuring and expansion of the primary government tenant that occupied approximately one-half of the building. The property was sold with complete construction drawings and a city approved building permit to totally replace the exterior façade of the building. The building was 100% occupied at the time of sale.
Pacifica further enhanced the value of this property through new leasing, the reduction of operating costs, and lease extensions of existing tenants.
Pacifica added new leases and completed physical improvements to the property during its ownership. This three-story office building was 94% leased to four national and international tenants at the time of sale.
Torrey View was a 100% occupied three-story office building before it was sold in January, 2007.