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Shopoff Acquires 130,440 Square-Foot Office Campus

Sponsor of private and public real estate offerings Shopoff Realty Investments recently acquired a three-building office campus in Beavercreek, Ohio. Shopoff Strategic Income Fund, L.P., a private offering, partially capitalized the acquisition.

Built in 1985, the campus named Apple Valley Office Center sits on about six acres and consists of a three-story, 55,024 square-foot building, a two-story, 29,916 square-foot building, and a single-story, 45,500 square-foot building, plus over 500 parking spaces for tenants and visitors.

Conveniently located close to restaurants, shops, and hotels, the campus also offers tenants easy access to major interstates such as 675, 75, and 70.

“Apple Valley Office Center is well-located in Dayton’s flourishing East Office Submarket, the main driver of regional office space demand,” said William Shopoff, chief executive officer of Shopoff Realty Investments. “Adding to its appeal, the campus currently has an occupancy level of 95 percent, providing stable cash flow and an opportunity to create additional value through unleased space. Moreover, the diverse group of tenants with staggered lease expirations increases the stability of the property in the future.”

Northrop Grumman Systems Corporation, a multi-billion dollar global defense and technology company, plus MacAulay-Brown, a $100 million locally based firm, anchor the campus.

The Irvine-based Shopoff plans upgrades and improvements to the property including transformation of vacant office suites so it’s ready for future tenants.