The building turned over three times in three years. Market rates for small offices didn’t support the need for large capital expenditures. The residential conversion rides a wave of development activity in the city.
A series of cold calls identified the opportunities. Many people who built self-storage facilities years ago didn’t realize what they would be worth today.
Goals include covering the 170,000-square-foot roof with solar and installing three Tesla Level 3 electric-vehicle super-charging stations by mid-2023.
Investment in buildout is expected to be about $2.5 million, including state-of-the-art patient care equipment and supplies, external renovation and internal systems.