- Capstone acquired a 73% leased class-A office building from LNR Partners.
- The buildings total ~650,000 SF and are located at 401,411 & 433 Hackensack Avenue in Hackensack, NJ.
- Continental Plaza comprises some of the most desirable office space in its market due to the excellent proximity to shopping, restaurants, and transportation.
- The complex underwent $16MM in renovations including: new HVAC/Mechanical systems, refreshed lobbies and corridors, new amenity spaces including a health & wellness center, conference center, coffee bar, and more.
- The property was sold in December 2019 at a substantial gain.
|Property Size||650,000 SF|
|Realized Deal IRR||31.6%|
|Realized Deal EM||2.24X|
|Hold Period||3 Years|