Woodbury Office Center
Property Details
Location: 2042 Wooddale Drive, Woodbury
Size: 47,971 SF
Purchase Date: June 2019
Overview
Acquired by Fallbrook Partners in June 2019, Woodbury Office Center marked the founding project of our company. Upon acquisition, the property faced significant challenges, including nearly 50% vacancy, neglected maintenance, and tenants either on month-to-month arrangements or struggling with rent obligations. Shortly after taking ownership, we learned our largest tenant could no longer fulfill their lease obligations—a situation that would typically devastate property performance.
Leveraging our extensive expertise in property management, we swiftly transitioned existing leases to gross lease structures and strategically reduced operational expenses.
These decisive actions created essential financial stability, enabling us to successfully lease the remaining spaces. Additionally, we identified and developed an infill lot at the property's forefront, significantly enhancing its overall value and profitability.
Over the past five years, we've secured new tenants for over 80% of the available spaces. Benefiting from an exceptional location along Highway 494, Woodbury Office Center now offers unparalleled visibility and accessibility, positioning it as one of Woodbury’s premier office parks. Today, the fully leased property reflects our commitment to tenant satisfaction, meticulous property management, and cultivating enduring community
relationships.