Acquired in November of 2013, Breakthrough Way represented a quality value-add opportunity as a 67% leased Class A office asset. DIG preempted the market sale of Breakthrough Way negotiating directly with the seller. Included in the acquisition was the adjacent parking structure containing 548 spaces. Severe lack of parking for neighboring office spaces provides opportunity for lease negotiations as Summerlin submarket office demand continues to grow. Breakthrough Way was acquired via 1031 Exchange for Royal Oaks Apartments.
DIG stabilized the asset at 94% occupancy achieving a long duration weighted average lease term in the process.