MHCommercial Real Estate Fund II Acquires Office Complex For $45.9 Million
The price equated to $267 per square foot.
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The price equated to $267 per square foot.
The 1972-built boutique office building is situated on .37 acres of land.
New ownership plans to spend north of $10 million in capital improvements to the property throughout 2022, including renovations to the lobby areas, corridors, and restrooms of Tower I, II and III. Additionally, they will be enhancing tenant amenities with a conference center, lounge, and state-of-the-art gym.
In early 2023, Shutts & Bowen will relocate more than 30 employees to the 22nd floor of the building.
Quest currently occupies 12,783 square feet on the third floor and will take an additional 13,164 square feet on the fourth floor, which they will occupy in October.
The asset is 87 percent leased to a diversified tenant roster with five or more years of weighted average lease term.

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