1111 Third

Talon and its investment partner, Walton Street Capital, acquired this asset in 2012. At the time, the building was only 40% occupied and the market vacancy factor was over 20%. Talon implemented an $8,000,000 complete interior and exterior renovation, including expanding the first-floor lobby envelope to allow for a light-filled glass atrium lobby. This new common lobby was flanked by retailers on both sides, and had access to a renovated exterior plaza. Talon was able to increase occupancy to approximately 85% by 2014 and sold the asset for a considerable net gain.