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BearRock Investments LLC
Sinto Office Building
9317 E. Sinto Avenue Spokane Valley, Washington
~ 4 Year Hold | Targeting 25% IRR
Active
Prior to purchase, leased balance of building to Spokane County government bringing building to 100% occupancy. Purchased building substantially below replacement cost.
Project Type | Source | Size | Acquisition Price | Sale Price |
|---|---|---|---|---|
Office | Industry relationship, on the market | 42,661 square feet | $5,300,000 | Not yet sold |
Purchased the project on an all cash (no debt) basis. The project was 90 percent leased to a local Spokane services company in the first year of a 10-year lease. Shortly after acquisition, leased balance of the building to Spokane County on a ten-year basis bringing the project 100% occupied with 9-10 years remaining on the leases. Project produces substantial cash flow and partnership will sell or place conservative debt on the property thereby returning investor equity tax free.
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