The Lakes complex consists of twin L-shaped, multi-tenant, classA buildings at 1000 and 1050 Lakes Dr. Safai says that Cornerstonewas one of nine bidders on the property, which closed at a 5.5% caprate.
The complex was 98% occupied at closing. The tenant rosterincludes Wells Fargo Bank, one of the largest tenants at thecomplex, which recently renewed its lease.
The Lakes complex sits on a site of nearly 6.2 acres ofextensively landscaped land, which includes two man-made lakessurrounded by a lawn and fountains. The twin four-story buildingswere built in 1990.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
