Comunale Properties | SUMMA Distribution

SUMMA Distribution

(Value-add acquisition)

Comunale and venture partner Thomarios purchased the 105,519 square foot building from a large publicly traded consumer products company that owned the property through an add-on acquisition of a portfolio company. The property had significant deferred maintenance as the building had been used for nothing more than storage for years. Comunale saw value in the functional layout and proximity to several freeways. The property was purchased vacant in an all cash transaction and a thorough renovation plan was immediately executed, which modernized the fa├žade, roof, and mechanical systems. Comunale then aggressively marketed the property and entered into a long term lease with a large healthcare system for them to utilize the property as their central logistics and purchasing facility for their owned hospitals.