3051-3055 Rosecrans St, San Diego 92110
Crown Point Systems approached CAST with a set of challenges they needed to remedy. With a lease expiring within 6 months and comparable rents rising in Liberty station, it was CAST's duty to deliver a solution. Located less than a mile away, Loma Starr represented a project which could suit their space needs and be acquired at a low basis. Understanding that Crown Point Systems did not want a large chunk of the company's capital tied to a down payment, CAST negotiated the subsequent sale of the property's 3 in-place cell phone towers to offset their initial cost of acquisition. In this way, they could benefit from an immediate value-add play which made their money down essentially zero. CAST structed the deal with Crown Point Systems to occupy about 50% of the complex as an owner-user, with other tenants in-place producing additional income. With CAST's strategic vision and tight coordination with a General Contractor, we also completed new TI's within thin the required timeline and avoided paying holdover rent. This was an all around successful deal for all parties involved.
With a focus of providing value on the front end, committing to service, and utilizing superior market knowledge, we strive to help all our clients achieve their commercial real estate goals. Contact us today to find out how we can serve you.