Seagate Properties
A Real Property Investment & Operating Company
One of three distribution warehouses purchased and leased back to a regional wholesale and retail grocery chain with less than investment grade credit.
Substantial value enhancement was achieved by Seagate through credit augmentation and the subsequent resale of the wholesale division to a much higher credit parent company.
The potential for a 60,000 square foot expansion to the exsiting building added to a successful sale of the property.
One of three distribution warehouses purchased and leased back to a regional wholesale and retail grocery chain with less than investment grade credit.
Substantial value enhancement was achieved by Seagate through credit augmentation and the subsequent resale of the wholesale division to a much higher credit parent company.
Seagate sold this property to an institutional investor and the adjacent development site to a local developer.
River Oaks consists of two R&D/Office buildings, on 8.21 acres of land. Building 401 was built in 1985 and later renovated in 2011 and contained 81,500 sf of R&D space. Building 405 contains 42,000 square feet and was built in 2001.
The building was previously fully leased to a single tenant, until they vacated. Seagate advised our client to sell the property as a multi-family housing site.
The sale was completed in 2012.
This five building office and light industrial property is centrally located within Marin County. The property was purchased subject to a limited remaining lease term.
Seagate’s investment strategy included acquiring an adjacent property to increase the parking ratio, and subdividing the property into multiple parcels to allow for an exit through resale of individual buildings to either investors or owner-users.
The property was ultimately purchased by the County of Marin for the creation of the new County Health Services Campus.
Seagate, in cooperation with the County of Marin, redeveloped the property into the Marin County Wellness Center. This public-private partnership resulted in substantial savings in development costs.
This six-building project located in the North Valley submarket of Reno, Nevada consists of a warehouse and distribution portfolio. Each building was on a separate parcel, allowing Seagate to sell two smaller vacant buildings to local owner-users, lease the vacancy in the larger buildings and eventually sell them to investors. This careful strategy and timely acquisition resulted in returns that greatly exceeded the business plan’s projected returns.
