Since inception, Greenlaw has executed transactions valued at over $5 billion and comprised of over 20.8 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.
2050 Main Street
Purchased as an REO asset from a national lender in an all-cash transaction at $178 per square foot with two institutional equity partners at a steep discount to its replacement cost
2050 Main Street is a 314,074 square foot, 13 story Class “A” office building located in the acclaimed Irvine Concourse Corporate Center
Selected as buyer due to track record and certainty of execution
Upon acquisition, the asset was leased up from 24% occupancy to over 80% despite a market vacancy rate of 25%
Sold in November 2011 for $108.5 million
18301 Von Karman
Purchased on an off-market basis at $180 per square foot 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 at $300 per square foot. 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 for $380 per square foot for a total price of $85,800,000.
6280 Artesia Boulevard
Greenlaw acquired 6280 Artesia Blvd in June of 2016 on an off-market basis with an existing institutional equity partner at $117/SF.
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 for $35.8 million
Tri-Freeway Business Park
Greenlaw acquired Tri-Freeway Business Park in April of 2014 at $102/SF 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 for $29.4 Million
Purchased as an REO asset from a national lender in an all-cash transaction at $64 per square foot with two institutional equity partners at a steep discount to replacement costs
4000 Met is a 188,263 square foot, 4-story Class “B” office building located in the Central Orange County submarket
Prior to the close of escrow, Greenlaw executed a new 10 year lease with TD Services to occupy 45,000 square feet
Upon acquisition, Greenlaw oversaw an extensive $27.6 million capital improvement project that included a brand new 4-level, 560 stall parking structure, building upgrades, and tenant improvements
6 months after close of escrow, Greenlaw brought the building to 95% occupancy by executing a 20-year, 100,000 square foot “Firm Term” lease with the FBI for their new Orange County headquarters. Greenlaw also renewed ITT Technical Institute for an additional 5-year term.
In August 2014, the asset was sold for $56 million
Purchased a newly constructed REO asset from a national lender in an all-cash transaction at $112 per square foot 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
In November, 2014 Greenlaw sold the six-story shell building for $26 million to an owner-user. The remaining two buildings were sold to an investor for $30.9 million in March 2015.
Purchased off-market and while in escrow in 2003 for $19.5M with a private equity partner at a steep discount to replacement cost
Stadium Centre is a 122,000 square foot, six story Class “A” office building located in the Central Orange County submarket
Greenlaw selected a residential developer and received a non-refundable deposit prior to close on a portion of the site
Aware of the City’s new General Plan & Zoning, Greenlaw sought to capitalize on the future surrounding development and secured entitlements for 260 condominium units on 3.72 acres. Simultaneously, Greenlaw purchased an adjacent one-acre site to accommodate office parking.
The office building and the residential land were sold for a combined $45 million, resulting in a profit of $22.5 million.
Greenlaw recapitalized the project again in late 2018 with an institutional partner for $233 per square foot for a total price of $28,800,000.
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 an 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 development of up to 1,600 residential units and supporting retail.
In December of 2012 Greenlaw acquired the adjacent 3.5 acres for $12.5M 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 at $81,000 per door resulting in a total sale price of $129.6M.
Purchased off-market in an all-cash transaction at $75 per square foot with two institutional equity partners at a steep discount to replacement costs
The Triangle is a 200,000 square foot entertainment center located at the end of the 55 Freeway with peak traffic counts of 250,000 cars per day
Upon acquisition, the asset was leased up from 25% occupancy to nearly 80%, including a 60,000 square foot, 15-year lease with 24 Hour Fitness for its Super Sport concept
New tenants include: 24 Hour Fitness, La Vida Cantina, Saddle Ranch Chop House, Tavern & Bowl, H20 Sushi & Izakaya, Black Knight/Olive Branch, Rockstar Tan, and GNC. Greenlaw also successfully renewed Sutra and Yard House to new 10-year leases.
In October 2017, the asset was sold for $54 million
Campus Point I & II
Greenlaw acquired Campus Point I & II with an existing institutional equity partner in February of 2013 for $132/SF
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
Campus Point sold in April of 2015 for $51.6 Million