Comunale Properties | Red 52nd

Red 52nd

(Acquisition & Renovation for Tenant’s Use)

Comunale was approached by a representative of a large global oil and gas service provider that needed an additional facility within six miles of its divisional headquarters for office/warehouse/lab use with heavy parking to meet the needs of their customers. The subject market had limited available warehouse space that met their location, functional and parking requirements. Within a short period of time Comunale was able to negotiate a purchase contract on a facility selected by the client’s real estate team, prepare a renovation plan for the property to be retrofitted to meet the tenant’s needs, and negotiate a long term lease.

The purchase was completed on an all cash basis and Comunale was able to complete the necessary improvements on a turnkey basis within ninety days to allow the tenant to quickly begin operating out of the facility to meet the needs of their customers. The acquisition and renovation was a prime example of how Comunale’s fully integrated platform with development, management, and ownership all under one roof with a central point of contact can be utilized to meet the real estate needs of tenants in an expedited and cost effective manner.