Class A industrial property located right on the Vía Rápida, a highway that leads to the San Ysidro border crossing. The property was acquired with a short remaining term on the lease and rents below market. Value-add strategy consisted in negotiating a new, 20-yr lease, increasing rents gradually and get to market-level rents in 5-6 years. We also built a 35,000 sq. ft. expansion on the builiding (30% increase of GLA), leased for 20 years at market level rents to the same tenant. We’re working with the tenant on an expansion program for the following years.