901 Fifth Case Study
On behalf of Walton Street Capital, we participated in the re-positioning of a 540,000 RSF asset that had been mired in bankruptcy, ownership neglect and deferred maintenance. We worked on the planning of $15 million of capital improvements including a complete replacement of the elevator system, major exterior maintenance, upgrades to the common areas and leased over 300,000 RSF of space (to 95% occupancy) during our nine years with this asset. We then participated in the sale to Beacon Capital in 2003.
The information contained herein has been obtained from sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. The prospective lessee should carefully verify each item contained herein.