Farash Place
Office | 176,000 SqFt
Marketing description
Situated in a walkable neighborhood on the edge of Downtown Rochester, Farash Place provides a unique investment opportunity for a well leased office property in a district that has seen a massive amount of recent mixed-use growth. The property also possesses a huge amount of upside potential from the 581 space on-site parking garage, which is not currently being used as a source of additional revenue.
Farash Place has seen more than $5.75 million in capital improvements in the past 5 years covering a wide range of infrastructure modernization, upgrades & repairs to the office building and garage, and the addition of numerous tenant amenities.
Investment highlights
Secure Core Income Stream + Significant Upside Potential
Well leased facility with Weighted Average Lease Term of 6.2+ Years. Over 68% of the currently leased space is on a term extending into 2030 and beyond.
Over $5.75 million in capital improvements recently completed on property minimizing future expenditures.
Sought after location in walkable “micro-district“ on the edge of Downtown is receiving significant interest from office users attempting to bring employees back to the office.
Opportunity to increase revenue through leasing space in parking garage (monthly passes, hourly rates, special events, non-business hours parking for neighboring residential development, etc.).
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