Evanston, IL | 163,036 SF
FD Stonewater purchased this 163,036 SF, Class A, transit-oriented building in late 2016. The asset and adjacent development parcel are located in a strong Chicago suburb. After purchasing the asset, FD Stonewater entered into a JV to develop the adjacent land parcel. The asset immediately underwent a rebranding process as well as $1 million capital plan including lobby renovations, a new tenant lounge, additional outdoor amenities, conference center, yoga room, and bike room. Within nine months of acquisition, occupancy increased from 78% to 100%. The asset is significantly outperforming the underwritten NOI through new leasing, improved rents, energy efficiency, and cost savings.
To get in touch, please fill out this form or call us at 703.537.7650.