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Projects

Attracting New Tenants to an Old Workspace

5531 – 5555 Phantom Drive
Hazelwood, MO 63042

129,000
Square Feet
Industrial

Process

Bamboo Equity Partners™ purchased the industrial property in Hazelwood out of bankruptcy in 2015. The property is located in a growing logistics area, and with a few strategic upgrades, our goal was to attract new tenants to the space. With the submarket vacancy tightening, as well as rental rates increasing, the property provided a lower-cost option in the area and was quickly leased to two locally owned companies. We took the property to market with a 100% occupancy rate and sold to a publicly traded REIT from the east coast in 2019. We achieved over 83% growth in the price from acquisition to disposition, while returning an 18% internal return rate to investors in just four years.

Results

100%

Increase in Occupancy

Occupancy at Acquisition: 0%; Occupancy at Disposition: 100%

83%

Increase in Value

Combined Acquisition Price: $2,950,000.00; Combined Disposition Price: $5,400,000.00

Taking risks on a well-located and maintained property drove value for our investors. Once the property was accurately marketed, the leasing fell into place and the buyer recognized the value we created in the leases, property and location.

Alice Benner, Principal & Managing Director

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