Chandler Business Center

Fullerton acquired this single-story Class A/B flex-office/industrial building located within the critical Chandler industrial submarket. The Property was extremely well-positioned with immediate access to both the I-10 and Loop 202 freeway systems serving all areas of the macro Phoenix market and the western United States. The Property’s design, configuration and appearance were highly competitive as it has the immediate ability to attract users of differing sizes and uses. Fullerton anticipated creating value through an aggressive and attentive leasing program capitalizing on its highly favorable market positioning.

Arizona Commercial Management was contracted to provide professional property management with Commercial Properties Inc. retained for the critical leasing expertise. Interior suite renovations including unit demising and speculative office build-out was undertaken to better capture immediate leasing interest. Additional capital improvements focused on essential mechanical equipment and roof repairs.

Fullerton’s responsive and proactive ownership approach allowed it to stabilize the property by capitalizing on a rapidly improving Phoenix industrial market. Due to it’s centralized location and access to the expanded I-10/202 freeway system the property provided an attractive option for varying users resulting in occupancy increasing from 50% at acquisition to 100% at the time of sale. Commercial Properties Inc. brokered the August 2021 sale at an extremely favorable cap rate exceeding Fullerton’s return objectives.

Tucson Marketplace – Shops F

Fullerton acquired this vacant land parcel at the entrance drive to a newly constructed Walmart/Costco anchored regional power center in central Tucson. The pad development opportunity will allow Fullerton to capitalize on shop tenant leasing demand adjacent to Tucson’s largest Costco location. National tenants include Starbucks, Verizon, and Jimmy John’s.

Fullerton teamed with Retail West Properties to provide development expertise including design, site preparation, permitting, and construction management. Leasing efforts were headed by Land Advisors organization who procured and negotiated all leases at the shopping center.

Fullerton identified this unique property located at the primary entrance drive to Tucson’s best performing Costco within a dominant regional retail center. Fullerton utilized its development expertise to maximize the building’s functionality with a drive-thru and outstanding visibility, signage and site coverage. The strong tenant roster of Starbucks, Verizon, Jimmy John’s, Realty Executives and Sunstreet Mortgage allowed Fullerton to realize a below-market cap rate and achieve all return objectives.

Tucson Marketplace – Park Avenue Pads

Fullerton acquired this fully entitled improved land parcel located along Park Avenue at the entrance drive to a newly constructed Walmart/Costco anchored regional power center in central Tucson. The multi-pad land portfolio acquisition allows Fullerton to control the highly strategic retail development opportunities on the doorstep of Tucson’s largest Walmart location.

Fullerton utilized its extensive knowledge of the Tucson retail market to underwrite and complete this opportunistic purchase from a developer desiring a timely transaction. Land Advisors has been retained for leasing/sale brokerage with Retail West Properties to provide development expertise.

The Property will continue to benefit from the continued success of both Walmart and Costco as additional tenants seek to capitalize on one of Tucson’s most successful retail destinations.

Kino Parkway

Fullerton acquired this unimproved parcel of vacant commercial land located on Kino Parkway in central Tucson. The Property is situated on a major commercial artery across from the entrance into a regional power center anchored by Costco and Walmart. The Property configuration provides excellent depth and expansive frontage for numerous pad users seeking to capitalize on traffic flow along Kino Parkway.

Fullerton teamed with Retail West Properties to provide development expertise including zoning, permitting, and construction management. Retail West completed all civil engineering and infrastructure requirements including grading, off-site roadway improvements, sidewalks and utilities. Land Advisors was retained for leasing and sale brokerage.

Pad sales to Culver’s, KFC, Dutch Bros Coffee, Discount Tire, and Mister Car Wash were finalized from 2015-2020. The highly desirable location of the land resulted in very favorable sale prices validating Fullerton’s core investment thesis. All sales were managed and facilitated by Land Advisors.

Tucson Marketplace – Shops A2

Fullerton acquired this vacant land parcel adjacent to a newly constructed McDonald’s at the entrance to a Walmart/Costco anchored regional power center in central Tucson. The multi-pad land portfolio acquisition allowed Fullerton to capitalize on unrealized shop tenant leasing demand at Tucson’s largest Walmart location. National tenants include Sprint, Sport Clips and ATI Physical Therapy.

Fullerton teamed with Retail West Properties to provide development expertise including design, site preparation, permitting, and construction management. Leasing efforts were headed by Land Advisors organization who procured and negotiated all leases at the shopping center.

Fullerton identified this unique opportunity within a dominant regional retail center anchored by Walmart, Costco and Century Theaters. By acquiring the vacant land and using its development expertise to design, develop and lease this building to national credit retailers Fullerton was able to achieve superior returns and realize its investment objectives.

Tucson Marketplace – Shops B3

Fullerton teamed with Retail West Properties on this speculative retail development to provide design, site preparation, permitting and construction management expertise. Leasing efforts were headed by Land Advisors organization who procured and negotiated all leases at the shopping center.

Fullerton teamed with Retail West Properties to provide development expertise including design, site preparation, permitting, and construction management. Leasing efforts for the remaining space are headed by Land Advisors organization, who have procured and negotiated all leases at the shopping center.

Location, location, location. Despite a retail environment wracked by the COVID-19 pandemic tenants at the Property continued to provide services throughout the lockdown. These essential tenants, combined with one of Tucson’s top-producing Walmart stores, was an attractive feature for an investor looking for a long-term retail investment. The sale process was managed and facilitated by Marcus & Millichap with Closing in April 2021.

Tucson Marketplace – Shops H

Fullerton acquired this vacant land parcel along the entrance drive to a newly constructed Walmart/Costco anchored regional power center in central Tucson. The multi-pad land portfolio acquisition allowed Fullerton to capitalize on unrealized shop tenant leasing demand at Tucson’s largest Costco location. National tenants include Mattress Firm and Great Clips.

Fullerton teamed with Retail West Properties on this speculative retail development to provide design, site preparation, permitting and construction management expertise. Leasing efforts were headed by Land Advisors organization who procured and negotiated all leases at the shopping center.

The Property’s location was validated through the COVID-19 pandemic that tested the strength of its tenants who continued to provide services throughout the lockdown. These essential tenants, combined with its location at the entrance to one of Arizona’s top-producing Costco stores, was an attractive feature for an investor looking for a thriving long-term retail investment. The sale process was managed and facilitated via the Ten-X auction platform with Closing in April 2021.

Wildewood Business Park

Fullerton acquired this 12 building professional office park from a motivated seller seeking a timely year-end closing. The Property is conveniently located along the Cortez Road corridor with proximity to both downtown Bradenton and I-75 and its appearance and finishes position it as a premier office destination within the Bradenton market. Fullerton anticipates creating immediate value through an aggressive leasing program and subsequent marketing of the individual buildings for sale to investors seeking stabilized investments.

Fullerton has once again teamed with Red Property Management to provide professional property management and Tony Veldkamp of Sperry Van Ness for leasing and brokerage services. An interior and exterior capital improvement program will enhance the sale of individual buildings which are situated on separate legal parcels. Below-market leases will be rolled to market while keeping a cautious eye on maintaining strong occupancy throughout the Property.

The Property is expected to benefit from the continued growth in the Bradenton office market. Property economics will realize an immediate lift from aggressive ownership seeking to capture market rents. Individual parcel sales will attract strong owner-user interest seeking affordable beneficial ownership.

Health Park East

Fullerton acquired this four building professional office complex below replacement cost from a highly motivated seller. The Property’s location, physical condition and configuration are highly competitive and it was only hindered by prior unrealistic ownership expectations. Despite trade area vacancy of 17% the Property was suffering from 74% vacancy at acquisition. With adjacent properties performing in excess of 90% occupancy Fullerton has the opportunity to immediately improve operating performance through aggressive lease negotiations.

Red Commercial Group and Sperry Van Ness have been contracted to provide best in class professional property management and leasing expertise. Leasing efforts will focus on increasing occupancy by attracting existing professionals currently established within the market through reduced rental rates made possible by the favorable acquisition basis. A capital improvement program will address minor deferred maintenance items including landscaping, lighting, signage and interior buildout.

Through proactive leasing and strategic capital investments Fullerton realized superior returns and met all financial objectives during its < 3 year investment period. A complete roof replacement and parking lot repairs improved the physical appearance while interior suites were remodeled and demised to better accommodate the existing demand. Tony Veldkamp of Sperry Van Ness assisted in securing a buyer at a highly competitive cap rate.

Regatta Village

This well-positioned neighborhood center was acquired significantly below replacement cost. Fullerton’s risk underwriting focused on the innate characteristics of the Property, which provides its competitive advantage: location, configuration, trade area competition, and market fundamentals. While the anchor tenant lease term presents some uncertainty, the below-market lease rates allow Fullerton the opportunity to retain or replace the tenant with minimal disruption to the economic fundamentals.

Red Commercial Group and Sperry Van Ness have been contracted to provide best-in-class professional property management and leasing expertise. A significant capital improvement program will address deferred maintenance items (parking lot, lighting, mechanical and roof repairs) while fascia remodeling will improve leasing and tenant retention efforts.

Fullerton achieved all return objectives during its 3.5 year investment period through a proactive capital improvement program and aggressive leasing efforts. An extensive fascia remodel repositioned the Property within the trade area and allowed Fullerton to stabilize the Property by dramatically increasing occupancy and resulting NOI. Tony Veldkamp of Sperry Van Ness assisted in securing a buyer at a highly favorable cap rate.

Livingston Road

Together with the Kyle, TX property, Fullerton acquired this highly strategic land assembly from a motivated lender seeking a timely disposition of a distressed asset. Fullerton’s ability to quickly underwrite the asset and provide certainty of close allowed it to acquire one of the last remaining vacant land parcels in the highly desirable Naples market well below market value.

Fullerton hired Hagan Engineering to initiate and oversee a complex matrix of residential entitlement and permit approvals from multiple levels of governmental agencies. Coordination of these approvals required a sophisticated level of expertise and cooperative effort with numerous stakeholders and consultants. Final site plan design was the collaborative effort between Fullerton and a regional home builder, which resulted in maximum development value for all parties.

Through the cooperative entitlement and sales process with the buyer, Fullerton was able to create significant value and finalize sale of the Property.

Star Health Clinic

Fullerton acquired this 2.7 acre land parcel in downtown Star, ID (suburban Boise) for the development of a single tenant medical care building for Saint Alphonsus Health System. The state-of-the-art facility with 2,350 sf of expansion area will be situated on 1 acre and will offer primary care, urgent care, pediatric care and various specialty services. The surplus 1.7 acres will be retained for future development.

Fullerton teamed with Retail West Properties to perform land acquisition, entitlement, permitting and construction. Retail West Properties worked closely with the tenant by providing concept, use and design consulting services in creating this prototype. As the third design-build project development between Saint Alphonsus and Retail West, Fullerton’s financial leadership will continue to allow this partnership to flourish with future developments.

The credit strength of St. Alphonsus combined with the advanced, multi-disciplined medical use and long-term lease achieved a sub-6% cap rate resulting in higher than anticipated Fullerton equity returns – which will be further enhanced through the future development of residual land.

Karcher Clinic

Fullerton acquired a 2.5 acre land parcel in suburban Boise, ID for the development of a single tenant medical care building for Saint Alphonsus Health System. The state-of-the art facility is situated on 1.1 acres and offers primary care, urgent care, physical therapy and various specialty services. The surplus 1.4 acres is retained for future development.

Fullerton teamed with Retail West Properties to perform land acquisition, entitlement, permitting, and construction. Retail West Properties worked closely with the tenant by providing concept, use and design consulting services in creating this prototype. Fullerton’s financial leadership allowed the partnership between Retail West and St. Alphonsus to flourish resulting in additional developments.

The credit strength of St. Alphonsus combined with the advanced, multi-disciplined medical use and long-term lease achieved a sub-6% cap rate resulting in higher than anticipated Fullerton equity returns.

Bown Crossing

Fullerton teamed with Retail West Properties to perform land acquisition, entitlement, permitting and construction on this 13,333 sf single tenant urgent care facility operated by St. Alphonsus Health System. The state-of-the-art facility offers primary care, urgent care, physical therapy and various specialty services.

Retail West Properties worked closely with the tenant by providing concept, use and design consulting services in creating this prototype. Fullerton’s financial leadership has allowed the partnership between Retail West and St. Alphonsus to flourish resulting in two additional developments.

The credit strength of St. Alphonsus combined with the advanced, multi-disciplined medical use and long-term lease achieved a sub-6% cap rate resulting in higher than anticipated Fullerton equity returns.

KVR Square

This luxury neighborhood center was acquired significantly below replacement cost. Although well maintained, the Property suffered from unrealistic leasing expectations. The favorable acquisition basis will allow Fullerton to reintroduce the center to the marketplace. The Property’s location directly across from the dominant regional mall provides identity and traffic flow highly desired by destination retailers and professional users.

Through aggressive ownership and the professional management and leasing services of Entre Commercial and O’Donnell Commercial Real Estate, respectively, leasing increased from 0% at acquisition to over 50% at the time of sale. Complementary uses and lifestyle tenancy, combined with a high standard of property maintenance, positioned the Property for sustained success.

Despite a challenging operating environment for retail services, Fullerton achieved leasing success during its ownership by engaging local professionals to attract a diverse mix of retail and service-based tenants. Fullerton worked closely with leasing and property management specialists to ensure a seamless tenant procurement and occupancy build-out process which stabilized the Property through dramatically increased occupancy. The sale process was managed and facilitated via the Ten-X auction platform with Closing in March 2021.

Frederick Commerce Center South

Fullerton partnered once again with Trammell Crow Company to acquire this 130 acre agricultural parcel in Frederick, MD located contiguous to the rapidly expanding Frederick Commerce Center industrial park. Frederick, MD is strategically located proximate to the Baltimore Harbor, Baltimore-Washington corridor, Northern VA market, and the I-81/I-95 distribution arteries. The Property ideally located for businesses looking to serve the fourth largest MSA in the United States.

Fullerton will immediately commence a three-step process to creating value at the Property: 1) Annex the Property into the City of Frederick; 2) Rezone the Property from agricultural to industrial designation; and 3) Secure full entitlements for maximum utility and value. Trammell Crow Company will provide the necessary expertise to coordinate third-party reports and prepare submissions to the appropriate agencies. Collectively these efforts require intelligent oversight and cohesive presentation to ensure the desired outcome.

Due to the scarcity of industrial development land within the Washington, DC MSA the Property will benefit from up 800,000 sf of industrial entitlements. Access, configuration and flexibility of the site will allow Fullerton to market the Property to industrial users of varying sizes and needs.

400 Shadow Lane

Fullerton acquired this two-story medical office building through the Ten-X online auction process. The Property is well-positioned within a short walk from Valley Hospital, University Medical Center Hospital and the UNLV School of Medicine. Additionally, the Property will benefit directly from over 24,000 jobs expected to be created within the Las Vegas Medical District prior to 2030. Fullerton anticipates creating immediate value through an aggressive leasing program capitalizing on its highly favorable acquisition basis.

Colliers International has been contracted to provide best in class professional property management and leasing expertise. A capital improvement program will address minor deferred maintenance and capital improvement items including signage, lighting, landscaping and lobby decor. Leasing efforts will capitalize on the improved property appearance within a growing medical trade area.

Through an effective capital program and improved property management and leasing functions Fullerton was able to substantially increase NOI and occupancy at the Property during it’s 3+ years of ownership. The Property’s positioning within the growing Las Vegas Medical District combined with strong credit tenancy and operations made the asset a highly desired core investment generating multiple offers. This investor enthusiasm allowed Fullerton to exceed proforma returns. Newmark Private Capital Group assisted Fullerton with the sale.

Baker Industrial Park

Fullerton teamed with Trammell Crow Company (“TCC”) to perform land acquisition, entitlement, and infrastructure improvements for this single or multi-tenant industrial development opportunity. Due to extremely restrictive land use and entitlement policies in Oregon the industrial market in the Portland MSA enjoys a vacancy rate of less than 4%. This property is located within the 360 acre master-planned Pioneer Industrial Park and now possesses all infrastructure and entitlement requirements for immediate development of up to 330,000 sf.

Trammell Crow Company has been extremely prolific in industrial development in the Pacific Northwest having worked closely with some of the world’s largest manufacturing and distribution tenants. TCC has extensive pre-development and development expertise within Canby as demonstrated by their recently completed 531,000 sf build-to-suit distribution facility for Columbia Distributing.

Due to a dearth of large industrial development parcels within the Portland MSA Fullerton pursued expansion of the site through land assembly. An additional 12 acres was added to the initial investment in October 2021 which enabled the partnership to market the 33 acre property to large-scale industrial users requiring a site able to accommodate >400,000 sf of warehouse/distribution space. The lack of competitive, well positioned, development-ready sites allowed Fullerton to negotiate aggressively and realize superior returns upon sale of the land. Investment partner, Trammell Crow Company, coordinated the sale of the Property.

Custer Road & Hwy 121

Fullerton acquired this 32 acre land parcel with Trammell Crow Company (“TCC”) to finalize entitlement and infrastructure improvements for a residential and retail mixed-use development. Located within a highly affluent and densely populated suburb of north Dallas, the project benefits from convenient access to multiple highways and arterials as well as proximity to employment centers, schools and retail services.

Headquartered in Dallas, Trammell Crow Company is one of the premier developers within the DFW Metroplex and will provide all necessary development expertise. TCC has procured HEB as the retail anchor and completed the difficult task of securing multi-family entitlements to commence residential apartment and townhouse construction.

Capitalizing on the strength of HEB, Texas’s favored grocer, Fullerton anticipates tremendous interest in the newly created retail pads. However, the real opportunity will be realized as the apartment and townhouse multi-family parcels become available to developers in a land-constrained residential market suffering from a significant shortage of availability.

18333 Egret Bay Blvd.

Fullerton acquired this six-story Class B office building through the Ten-X online auction process. The Property is well-positioned with close proximity to NASA Johnson Space Center as well as the expanding southeast Houston MSA. The Property’s exterior appearance and location are highly competitive and it was hindered primarily from a dated interior and common area improvements. Fullerton anticipates creating immediate value through an aggressive and attentive leasing program capitalizing on its highly favorable acquisition basis.

Reliance Property Resources has been contracted to provide professional property management with Zann Commercial Brokerage retained for the critical local leasing expertise. An extensive capital improvement program will include a full lobby renovation, exterior entrance improvements and construction of a first class indoor-outdoor tenant lounge. Further capital improvements will focus on essential mechanical equipment including elevator, parking lot and chiller repairs and replacement. Leasing efforts will capitalize on the improved property appearance within a trade area dominated by the aerospace sector.

Due to its suburban Houston office location within immediate proximity to the growing NASA Johnson Space Center submarket the Property expects to realize immediate benefits from improved ownership. The extensive capital renovations combined with aggressive leasing will result in significant increases in occupancy and NOI.

4441 W. Airport Freeway

Fullerton moved quickly to capitalize on this vacant office building strategically located within the Dallas Metroplex. Despite being restricted from conducting a comprehensive due diligence due to the sale process through TEN-X online auction, Fullerton recognized the potential value in the building’s outstanding condition, configuration and location. The building’s location at the entrance to the thriving DFW airport, the strength of the overall DFW trade area and growth of the Irving/Las Colinas submarket position Fullerton to create immediate value through lease-up and sale.

Transwestern and Paladin Partners were retained to provide Fullerton with best in class professional management and leasing expertise, respectively. Fullerton implemented a capital improvement program to update the building’s appearance and improve its competitive positioning. The building provides a unique opportunity for an owner-user to locate within the DFW Metroplex at an affordable price point while benefitting from outstanding location, visibility and access.

Despite the COVID-19 pandemic creating an extended pause in the office leasing market Fullerton was nonetheless able to transition the Property from a single-tenant to a multi-tenant office building through an extensive capital campaign. Common area modernization and tenant suite upgrades resulted in occupancy increasing from 0% at acquisition to over 60% at the time of sale. The sale process was managed and facilitated via the Ten-X auction platform with Closing in August 2021.

Hwy 59 & Grand Parkway

Refinancing of a maturing first mortgage on a 48 acre vacant land parcel at the intersection of two primary highways in southwest Houston. An extremely difficult land financing market with a maturing mortgage created an opportunity for Fullerton to replace the existing mortgage with short-term first lien debt producing a favorable risk-adjusted yield.

Through its extensive investment knowledge of the Houston MSA, Fullerton was able to underwrite the real estate collateral and provide a lending commitment in a dramatically compressed timeframe. Fullerton’s ability to focus on the primary repayment source – the quality of the underlying real estate – allowed it to provide financing during tumultuous market conditions.

An improving Houston real estate market and the strength of the Property resulted in a shorter investment period as Fullerton received full repayment upon sale of the Property to a local real estate developer.

Hwy 210 & I-35

Together with the Livingston Road property in Bonita Springs, FL, Fullerton acquired this well-positioned vacant land parcel from a motivated lender seeking a timely disposition of a distressed asset. Fullerton’s ability to quickly underwrite the asset and provide certainty of close allowed it to acquire one of the last remaining highway exit parcels along the strategic I-35 corridor south of Austin, TX well below market value.

Through its extensive professional network and prior investment history in the Austin MSA, Fullerton was able to quickly assess the opportunity and close on the acquisition within two weeks. Fullerton performed a complete underwriting including market valuation, legal and zoning due diligence, and environmental review immediately upon receipt.

Site Solutions Inc. of Austin identified a qualified buyer who closed on Fullerton’s sale of the Property within 20 days of acquisition, thereby realizing a significant profit and allowing Fullerton to recapture the majority of the equity required for the two property acquisition.

Fettler Park

Fullerton acquired this Class A underperforming two building suburban office complex strategically located within three miles of the US Marine Corps Base in Quantico, VA. Despite the attractive and relatively new construction, the Property has suffered from a lack of strategic direction and leasing expertise. Fullerton acquired the Property after years of ownership neglect and uncertainty which resulted in leasing difficulties. Fullerton was attracted to the building’s outstanding condition, configuration and proximity to both the Marine Corps base and vibrant Northern Virginia office market.

Redwood Commercial Management and Mid-Atlantic Acquisitions have been retained to provide Fullerton with best in class professional management and leasing expertise, respectively. In a unique leasing market where speed in decision-making is critical, Fullerton’s lean and decisive management team will position it to see new deals entering the market. Further, the below-market acquisition basis and critical tenant improvement funding will allow Fullerton to capture new leases and create significant value.

Given the proximity to the US Marine Corps Base in Quantico, the Property relies heavily on government defense contractors. Through Fullerton’s willingness to assume lease-up risk in an uncertain political climate, the favorable acquisition price and improved ownership will allow it to compete aggressively in capturing leasing market share.