CIM’s Value-Add Strategy focuses on investments in real estate or related assets such as retail, residential, office, hotel and other asset types (including entertainment, parking, and signage) that involve lease-up, capital or tenant improvements, limited repositioning/redevelopment and other value-add initiatives located in communities that CIM has qualified for investment. These communities include central business districts and traditional downtown areas of large, metropolitan cities with high-density mixed-use development.
An example of CIM’s value-add investments is 801 South Grand, an 11-story office condominium inside a 22-story mixed-use building with 202,000 rentable square feet and an adjacent six-story above-ground parking structure consisting of 594 stalls located in Downtown Los Angeles’ rapidly transitioning South Park District. CIM originally acquired the property in 2003 as an opportunistic investment, and after developing and selling the residential condominiums on the top 11 floors, CIM sold the office and parking structure in 2008. CIM repurchased the commercial property from the buyer in late 2013, and since then increased revenues through new leasing, releasing, and lease renewals as well as through increases to the parking operations by implementing parking revenue programs. CIM is entitling approximately 3,200 square feet of new street-level retail in addition to approximately 5,600 square feet of additional office space.
EpiCentre is a 5-building, 4-level outdoor retail and entertainment destination located in the heart of Uptown Charlotte.
Central Tower, a 21-story, 108,225 square-foot office building is located at 703 Market Street in San Francisco's South Financial District.
Hartland Plaza is a Class A, 4-story, approximately 180,000 square foot office building
located just west of Austin’s Central District.