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Interport Business Center

  • Overview

    Manekin and its joint venture partner acquired the 620,000 square foot distribution/warehouse portfolio (50% leased) in December 2013 from and institutional owner using a combination of equity and life company debt. The firm undertook a value enhancement program: painting, enhanced truck parking, increased dock doors, coordinated signage and a new lease document which drove 380,000 square feet of new, renewal and expansion leasing over a period of ten months.Further leasing supported the ultimate dispostion price of $29,000,000 in July of 2017 resulting in a 2.6x multiple and 26% IRR to the joint venture.  

  • Project Details

    Square Footage620,000