Asking Price
Cap Rate
Occupancy
WALT
Property Type
Square Feet
7 Corporate Park is part of a greater five-building creative campus known as The Parc, which features onsite amenities including a coffee bar, outdoor tenant lounges, and multiple open-air patios.
The property was 96% leased with only 10% rollover between 2021–2023, along with a weighted average lease term of 6.1 years. Previous ownership had successfully pushed market rents to $3.05 FSG and in-place rents are 4% below market. Further increase to the NOI could be achieved through the lease up of the one remaining vacant suite (1,395 square feet).
In 2019, the campus underwent a transformational capital plan with major improvements including new lobbies, updated corridors, renovated restrooms, drought-resistant landscaping, LED lighting upgrades, and news roof with solar panels.