928-930 East Arques is comprised of two single-story office/R&D buildings, consisting of 82,726 total square feet located on a single 5.3 acre parcel. Both buildings were built in 1985.
Situation
Orchard Partners purchased the property in 2007 in an off-market transaction.
At the time of acquisition, the property was 42% leased to GE Healthcare, although GE had already notified the previous landlord that it would be vacating the premises at the end of its term, less than 9 months away.
Interiors at both buildings were tired and out-of-date, as were the building lobby entrances and site improvements.
Results
In 2007/2008, Orchard Partners completed an extensive interior and exterior “market ready” update plan, including new lobbies, new entry façade, new lighting, updated landscaping, and other capital improvements.
In 2007, Orchard Partners leased the 930 East Arques building to Cambrios Technologies, a venture-backed developer of electronic materials.
In 2012, the 928 E. Arques building was leased to Apple Computer and the property was concurrently sold to an investor.
