Investment Overview

750 N. Commons Drive this Class A Flex property totaling 205,074 rentable square feet is situated on 16.37 acres in a highly desirable logistical area. This asset is 100 percent occupied and features three global tenants (Westell; Thales Defense and Security (S&P rated A-); Sonova US) with a strong WALT of 9.25 years. Under current ownership extensive updates and renovations have been completed to include a modernized café, fitness facility, and outdoor common area gathering space. In addition, the large parcel allows availability to expand in a desirable business park. The low vacancy rate in the area has driven many new developments on the neighboring parcels. The excellent mix of warehouse and Class A office in this asset, along with ownership executing well in securing credible tenants, has created a strong investment for any potential buyer. Westell (WSTL) occupies 81,960 rentable square feet of warehouse and office space and has effectively become a leading provider of high-performance network infrastructure solutions with millions of products deployed worldwide. A recently exercised five-year lease extension displays their commitment to this property. Westell has occupied the building since its construction in 1997. Thales Defense and Security ( TDSI / S&P A- rated) occupies 23,052 rentable square feet of Class A office space serviced by cutting edge technology to ensure efficiency for their global business. Thales is a U.S. based company serving domestic and international defense for over 60 years. With over 1,000 employees across three subsidiary companies, Thales supports numerous U.S. military and multi-national partners with key technologies including communication, visualization, electronic warfare, and sensor/sonar capabilities. Thales has a Market Cap of $50.50 billion USD and annual revenue of $20.58 billion USD (2024). Thales initiated a 10-year lease in 2023 and secured two additional five year options to extend. Sonova USA (SONVY) occupies 66,611 rentable square feet of Class A office space on a long-term net lease. Sonova was founded in 1947 and is a leading provider of innovative hearing care solutions around the world. Sonova primarily operates in the Hearing Instrument and Cochlear Implant business segments. Sonova USA has a Market Cap of $18.30 billion USD and revenue of $3.71 billion USD. Sonova originally executed a 16 year lease, displaying a long term commitment to this property. They currently have 11 years remaining on their initial lease term.