22-24 Kennedy was purchased from a church occupied the premise and leased the remainder space to two other congregations. Immediately upon purchase CC consolidated the remainder tenants to the smaller side of the property (22) and marketed the larger space (24). Within 9 months CC procured a growing regional church and negotiated a 6-month rental abatement in lieu of tenant improvements for a five year lease. All new leases were signed at $14.50 psf, NNN. Simultaneous with rental commencement the partnership was able to recoup its initial equity via a subsequent capitalization with a local bank / City First Bank. While the property was not marketed for sale, in early 2018 a local multi-family developer offered to purchase the property with the tenants in place with the intention to hold for future development.