10000 Innovation Drive
Irgens formed a joint venture with an institutional investor to acquire a 203,831 square foot building after the previous owner decided to downsize and divest itself of the real estate holding. The Irgens joint venture successfully competed against other investment groups for the property and once it was acquired, negotiated a sale/leaseback arrangement with the seller within a tight timeframe. The institutional investor partner leased approximately 80,000 square feet and Irgens brokered the remaining space to other complementary service firms. A few years later, Irgens formed a new LLC to repurchase the building from the institutional investor and completed a 65,735 square foot “winged” addition as well as a significant interior renovation.
“Our relationship with Irgens has been excellent. They do what they say they’re going to do and have an uncanny ability to make projects work using a variety of relationships and financial tools.”