April 9, 2026 – The business plan contemplated a sale-leaseback with the seller while they pursued a sale of their business. However, recognizing a significant mark-to-market opportunity, CenterSquare exercised its landlord termination option in 2024 as the tenant was unable to sell its business. The tenant completed its decommissioning plan and vacated the property in November 2024.
CenterSquare completed capital improvements including replacing HVAC units with more energy efficient coolant, upgrading office finishes and restriping the parking lots including adding ADA parking stalls. Subsequently, CenterSquare was able to execute a new 5-year lease with a publicly traded electric vehicle company in March 2025.
