Case Study | Triangle Center
Deal Highlights
- Partners Fund III acquired Triangle Center off-market in November 2019 at 40% occupied - including a vacant tract of land with I-35 frontage.
- Negotiated a build-to-suit with Starbucks for a new drive thru location in front of the shopping center. Starbucks sold at a 4% cap rate.
- Occupancy pushed to over 95% by executing leases with a strong tenant base.
- Upon achieving stabilization, property was listed, and a qualified buyer was identified in California.
