CBE acquired 300 Ballardvale in an off market transaction. Through hands-on management and a rebranding effort to attract R&D tenants, CBE drove occupancy from 73% at acquisition to 95% in the first 12 months of ownership, while improving asking rental rate by 21%.
CBE acquired 100 Penn in 2021 at a deep discount to replacement cost. 57% leased at close, the business plan for this asset is to drive leasing activity through exterior renovations and implementation of a spec suite program to capture last-minute, small/mid-size tenant demand.
CBE has unlocked value at the Park through extensive common area renovations, bottom line accretion via attentive and active management, building remeasurement, and resolution of mechanical deficiencies. CBE has returned 100% of investor equity while still owning the 90,000 SF office component.
2017 off-market acquisition. Park was 40% leased at close and required extensive capital improvements and rebranding. To date, CB Equities has retained 100% of the existing tenancy, while increasing base rental rates by 23% and improving occupancy to 90%. Refinanced in 2021 at 2.5x purchase price.
Following acquisition of vacant land in 2017, CB Equities designed, permitted, and constructed 9 luxury condominium units in the Orient Heights neighborhood of East Boston, while simultaneously subdividing the land parcel. All units were sold within 6 months of completion.
CB Equities acquired at 70% leased to traditional office tenants. Fully repositioned via extensive capital improvements and permitting of signage band around building exterior. Expanded and extended the anchor tenant and leased to 90% at time of disposition.
CB Equities acquired a stand-alone Rite-Aid Pharmacy in 2012 during Rite Aid corporate restructuring uncertainty. With extensive credit research and understanding of market landscape, CBE acquired in 2012 and disposed three years later for a 3.1x equity multiple return.
CBE acquired 20/21 Business Center in Columbia, South Carolina in 2022. 93% leased at close, this single-story flex property features a diverse tenant roster and is a high-demand, low-supply product type with prime accessibility at the intersection of two major interstate roadways. The business plan