Adler acquired the 32% occupied property in 2004 and completed a full renovation to the common areas including lobbies, restrooms, and café. During its first few years of ownership, Adler successfully stabilized the property with several large leases, including four with various government agencies. Adler maintained high occupancy during its fifteen years of ownership and subsequently made other major upgrades to building infrastructure, including the replacement of the fluid cooling towers, modernization of all seven elevators, and major improvements to the fire life safety system.

“The investment provided Adler’s investors cash flow and substantial appreciation as the property nearly doubled in value over the ownership period. We acquired an under performing asset at a discounted price and successfully executed our business plan to renovate and lease-up the high vacancy” said Michael Adler, President of Adler.

Adler continues to look throughout the western United States for other value-add office, industrial, and retail opportunities. Mindy Korth of Colliers represented Adler in the transaction.

The building is located at 12222 Merit Drive and is strategically located off of the Central Expressway, south of the recently improved Lyndon B Johnson Freeway (LBJ) interchange.   Situated on a 4.39 acre site, the project is improved with an attached six story parking structure, and amenities including a restaurant, fitness center, and a scenic park setting.

“We have been very successful in acquiring value-added properties such as this and executing our business plans, resulting in higher values and above market returns for our investors,” said Michael Adler, president of Adler. “Chris Engel, our director of acquisitions, is aggressively looking throughout the western United States for other value-add opportunities.”

About Adler Realty Investments, Inc.

Adler Realty Investments, Inc. is a full-service real estate investment and development firm with over $600 million in acquisitions since inception. ADLER’s real estate portfolio consists of more than 2.7 million square feet of office, industrial, retail and multi-family residential properties in Texas, California, Colorado, and Arizona, as well as vacant land for future development.  ADLER’s trademark is its unparalleled ability to identify, analyze, negotiate and close transactions involving many different types of real estate. ADLER has the experience and expertise required to execute management and development strategies to maximize a property’s value in the market.

For more information, please contact Michael Adler at (818) 884-2200 or Chris Engel at (818) 480-5501, or visit www.adler-realty.com. Adler Realty Investments, Inc. is located at 20951 Burbank Blvd. Suite B, Woodland Hills, Calif. 91367.

LLJ Ventures, LLC

LLJ Ventures is the private equity arm of the LM Group which manages more than $6 billion in public markets and commercial real estate from institutional and high net worth investors. LLJ Ventures specializes in complicated value add and opportunistic commercial real estate opportunities. In the last 12 months it has acquired office, hotels, multifamily, notes, c-stores, retail and land throughout the U.S.

For more information about LLJ Ventures, please contact Leonardo Simpser (lsimpser@lmcapital.com) or Tommy J. Nordgaard at (619) 814-1400. LLJ Ventures and LM Capital are located at 401 B Street, Suite 920, San Diego.

“We are excited about the execution of these substantial leases at the building and are pleased with the activity we are seeing in the market” said Michael Adler, President of ARI. “Our ability to be creative and attentive to prospective tenants’ needs has consistently resulted in win-win transactions for both our tenants and our investors.”

John Bonnell and Brett Abramson of Jones, Lang LaSalle are the listing brokers at the property.