Located in Orem, Utah with I-15 freeway visibility. This 13,840 square foot flex retail property was 100% vacant when put under contract by Legacy Real Estate Investments, Inc. in March 2006. While under contract, Legacy along with the assistance of NAI Utah was able to sign long-term leases for 75% of the building to quality credit tenants including Sherwin Williams for 10 years and Wood Floor Warehouse for 7 years. This value-add deal now a stabilized property was recapitalized in September 2006 for a substantial profit and is currently paying a 12.0% cash-on-cash return to ownership. Legacy retains a 12.95% ownership interest in the property.
