Since its inception, Greenlaw has executed transactions valued at over $7 billion and comprised of over 21 million square feet. Our strong track record has resonated within the brokerage and investment communities. We believe these selected case studies illustrate our capacity to invest intelligently, add value, and deliver tremendous returns to our partners.
18301 Von Karman
Purchased on an off-market basis with two institutional equity partners at a steep discount to replacement cost. 18301 Von Karman is a 225,000 square foot, 11 story, Class “A” office building located in the acclaimed Irvine Towers office project in the heart of the Orange County Airport Area. Upon acquisition, the asset was leased up from 30% occupancy to over 80% despite a market vacancy rate of 25%.
The building was completely renovated including a brand new lobby, the replacement of business systems, and upgrade of the corridors and restrooms.
Greenlaw recapitalized the building in a new Joint Venture with CIGNA Realty Investors, which closed in early 2014. The property was leased to nearly 95% during the first 8-months of the new ownership. Greenlaw recapitalized the building again in early 2017 with a private capital partner.
6280 Artesia Boulevard
Greenlaw acquired 6280 Artesia Blvd in June 2016 on an off-market basis with an existing institutional equity partner. 6280 Artesia Blvd is a 218,640 square foot, “Class B” distribution/manufacturing industrial building located on 12 acres in Buena Park, California.
Greenlaw took advantage of the rising industrial market and 0.5% vacancy rate in Buena Park and sold the building with 12 months of lease term remaining and stable cash flow provided by the in-place tenant. In July of 2017, Greenlaw sold the stabilized asset to an industrial REIT.
Tri-Freeway Business Park
Greenlaw acquired Tri-Freeway Business Park in April 2014 with a private equity partner at a steep discount to replacement cost. Tri-Freeway Business Park is a 208,824 square foot multi-tenant industrial park located directly off the I-5 Freeway in the North Orange County submarket. Greenlaw took advantage of Southern California’s top industrial market and sold the asset at 97% occupancy in 2 years. In November of 2016, Greenlaw sold the project to a high-net-worth individual.
Purchased a newly constructed REO asset from a national lender in an all-cash transaction with an institutional equity partner at a steep discount to replacement costs. Built in 2008, the project was 40% leased at the time of acquisition and was purchased at 1/3 of replacement costs. Located along the I-10 Freeway adjacent to the Ontario Airport, Waterside is a 3-building, 303,000 square foot, Class “A” office project located in the prestigious Centrelake Development project.
Campus Point I & II
Greenlaw acquired Campus Point I & II with an existing institutional equity partner in February of 2013. Campus Point consists of two adjacent 7-story, Class “A” office/R&D buildings totaling 194,326 square feet in the UTC submarket of San Diego.
Greenlaw purchased the assets on a short-term sale-leaseback with the Seller, seeking to capitalize on the demand for large blocks of vacant space in the submarket. Once the tenant vacated the premises, Greenlaw spent approximately $4M in cosmetic capital on a full interior renovation, updated landscape plan, and a new on-campus fitness center.
Irvine Technology Center
Purchased an off-market, redevelopment / land assemblage opportunity with an institutional capital partner
At the time of acquisition, the project was 100% occupied with varying lease expirations
ITC is the redevelopment of a 12 building, 250,000 square foot flex-office project situated on 20 acres at the highly desirable corner of Campus and Jamboree; located less than 1 mile from the John Wayne Airport, the Irvine Business Corridor, and the University of California at Irvine.
From 2005 to 2013, the property was leased and provided sustainable cash flow for investors. During this time, Greenlaw navigated through the re-entitlement process to allow for the development of up to 1,600 residential units and supporting retail.
In December of 2012, Greenlaw acquired the adjacent 3.5 acres and leased the asset, and maintained a termination clause for the end buyer/builder.
In 2013, Greenlaw agreed to sell the entire project to a national apartment builder in a two-phased closing.