The Galaxy Office Park is a Class A office complex located in Concord, CA. Constructed by the owner in two phases between 1985-86, the property is comprised of two buildings totaling 173,148 SF of net rentable space. The project consists of steel-frame construction above subterranean parking.
Orchard was retained by the Owner to evaluate the benefits of selling property vis-à-vis a 1031 Exchange.
Sought recession resistant property types, including industrial, apartments, self-storage properties.
Screened deals for high current return and discount to replacement cost.
Sought to reduce management requirement on the part of family.
Orchard Partners helped to secure an institutional buyer of the property that generated $42.5 million of re-investment proceeds.
Reviewed over 100 separate properties for re-investment.
Helped to re-invest proceeds in four separate transactions within required timeline.
Exchange helped to diversify family geographically and by product type.
Achieved high current cash flow with reduced management intensity.