Assignment

RM Friedland proposed to owner Robert Martin Company (RMC) the conversion of a non-performing two-story, 70,000 square foot office building into a 200,000+ square foot high-bay industrial warehouse facility to meet the heightened post-COVID-19 demand for industrial spaces.

Challenge

RMC navigated initial site and construction hurdles by leveraging the rental income from tenants occupying three of the other five buildings in their portfolio. This ongoing revenue provided the financial support needed to address and resolve these challenges.

Result

RM Friedland helped RMC execute their long-term strategic plan, which included capitalizing on short-term selling opportunities to reallocate capital to higher-growth investments. After construction, RM Friedland achieved 100% occupancy for the facility.

RMC sold the 419 West Ave property to V20 Group, retaining the 500, 550, and 600 West Ave buildings in their portfolio.