| For leasing information click here |
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| Location |
1455 W. Elliott Road, Gilbert, AZ |
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| Acquisition Date |
February 2010 |
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| Total Investment |
$550,000 |
|
| Square Feet |
7,200 |
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| Tenants Include |
T.J.’s Subs, Orient Sushi |
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| Highlights |
| Non-performing note purchased at below physical replacement cost |
| Face value on the note of $1.65M |
| Purchased at 60% discount to replacement cost |
| Leasing technicality delayed tenant occupancy |
| Located in affluent suburb of Phoenix near large business park |
|
|
| Disposition |
| Assume title to property through deed-in-lieu of foreclosure |
| Lease to 100% and sell to an income investor |
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