3 & 5 ADP BLVD
PROPERTY DETAILS
- 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.
| Asset Class | Office |
| Property Size | 167,000 SF |
| Investment Status | Sold |
| Realized Deal IRR | 19.2% |
| Realized Deal EM | 1.47X |
| Hold Period | 6 Years |