3 & 5 ADP BLVD
- Capstone acquired two office buildings at a significant discount that were vacated by a global payroll processing company.
- Capstone rebranded the buildings, implemented a $5.0M capital and leasing program; 3 ADP was 100% NNN leased to Dish Network and 5 ADP’s occupancy increased to 100% from 50%.
- Capstone executed a 150% cash out refinance in 2016.
|Property Size||167,000 SF|
|Realized Deal IRR||19.2%|
|Realized Deal EM||1.47X|
|Hold Period||6 Years|