Via Orange Industrial is our first syndication project. Purchased in 2008, this property was only 40% occupied due to the anchor tenant of the property moving out. Our group then rebuilt the space to its original plan of small incubator units of 700 square feet.
We executed the building reconstruction in 30 days and began leasing suites. We reached 100% occupancy within 90 days (4 months ahead of proforma) and achieved rents well in excess of market and proforma. Via Orange continue to proforma well and is a great example of our reposition/value add model.