In September 2022, ESJ acquired the Westech Portfolio, a six-building, 250,588 SF multi-tenant office, flex warehouse, and medical office campus on 25 acres for $40.5M ($162 PSF). ESJ's value-add strategy focuses on leasing up vacancy by targeting medical and healthcare users, a tenant profile that commands premium rents and longer lease terms in this submarket.
By converting underutilized flex and office space to medical tenancy, ESJ aims to push rents from in-place rates to market levels of $20.00–$22.50 PSF, driving meaningful NOI growth ahead of a planned exit.
The Washington, D.C., metro medical office market benefits from exceptional demographics, a dense concentration of healthcare institutions, and virtually no new competing supply, creating a compelling backdrop for ESJ's repositioning thesis.
19950 West Country Club Drive
Suite 800
Aventura, FL 33180
USA
2A Rue Ermesinde,
L-8416 Steinfort
GD of Luxembourg
19950 West Country Club Drive
Suite 800
Aventura, FL 33180
USA
2A Rue Ermesinde,
L-8416 Steinfort
GD of Luxembourg