Spectrum Way

Commerce Park – Build to Suit for Municipal Operations & Consulting. https://municipalops.com/

100% leased and sold to third party investors at an 8% cap rate w/ approximately 27,000 sq ft sold with 5 years remaining on a 7 year lease.

Project time was 39 months from lease execution, build out of existing shell, tenant acceptance and sales to third party investors.  Cost to build approx 3.4 M and sales price was 4.5M return on exposure was 75%