Deal Type: Sale and Lease
Deal Size: $1,700,000
Deal Summary: Culberson sold a Northeast Regional investor this asset in 2018. At the time the asset had two leased rolling in approximately 3 year from lease execution with DHL and Cintas. The initial goal with this asset was to make it a single tenant building with a substantial increase in the NOI. In 2021, Culberson worked with DHL’s team to renew the lease an improve the NOI by over 20% over the prior rent roll. This was a perfect execution of the initial strategy helping the investor achieve a longer term single tenant lease helping to not only improve the NOI but also cap rate compression because of improved lease term and single tenant deal.