About VJ Properties

VJ Properties is a hands-on corporation which is active in the acquisition of investment and development opportunities, specifically real estate secured assets. VJ has over 35 years of combined experience in the field of real estate investment, construction, management and overall operation of facilities.

The partnership consists of two principals, each with an extensive background and knowledge base in the business of real estate development and investment.

VJ Properties has joined forces to create a vehicle in which it can offer its investors and the partners a secure alternative for capital investment. The partners have known one another for the past ten years and realized their business philosophies were similar in addition to complimentary business acumen and styles. Projects done to date include:

In August, 1997 VJ created a joint venture to purchase a 100,000 sf office building at 459 N. Gilbert Road in Gilbert, Arizona. It was 16 percent occupied at the time. Occupancy was built to 100 percent over approximately 27 months, during a $2.6 tenant improvement/rehabilitation project. VJ was able to return partners' equity via permanent financing and cash flow as the project was sold in the Summer of 2002 for an 80 percent profit above total project costs.

In April, 1998, VJ created a partnership to purchase a 50,000 sf multi-tenant industrial complex at 2224-2240 W. Desert Cove, Phoenix . We saw an opportunity with average rental rates at 80 percent of market and a vacancy rate below 5 percent. Tenants were renewed at prevailing market rates. The property was performing to projected yields as it was sold in May 2001 and returned a 37 percent annualized return (IRR) to the Investors.

In February, 1999, VJ created a partnership to purchase a 173,000 sf vacant industrial building at 1524 W. 14th Street, Tempe. Despite its superior location, the property had been neglected by its corporate owner. The building was rehabilitated and divided into several tenant spaces. The property was sold in June? 2004 with occupancy at 87 percent, and performing well financially.

In March, 2000, VJ created a partnership to purchase 95 acres of business park land in Mesa, Arizona. The property surrounds a site of a new Home Depot store. It is adjacent to the Superstition Freeway and 1.5 miles west of the future Red Mountain Freeway ( Loop 202) intersection, which is under construction. IASIS Healthcare purchased 47 acres for the site of a new hospital and medical buildings. The business park will have retail, office and industrial uses.

In June, 2000, VJ created a partnership to purchase a 28,000 sf business park building in northeast Phoenix. VJ has renovated the building, expanded parking areas and executed leases for 100 percent of the space.

In December, 2002, VJ created a partnership to purchase a 53,000 sf medical office building from the Federal Bankruptcy Court. This property is located in Scottsdale , Arizona , situated across the street from Scottsdale Memorial South Hospital , an established regional hospital. The prior ownership had mismanaged the property and the facility was in need of deferred maintenance and capital improvements. VJ investigated the property for in excess of one year and was awarded the property in a public bid. The building is presently 83 percent occupied and VJ is in the process of rehabilitating the facility.

In March of 2003 VJ created a partnership to purchase a 32,600 sf office building. The building was 24 percent leased at closing, but is now 100 percent leased. The central Phoenix property was purchased to provide a location for the tenant, which now occupies all the space previously vacant in the building. Tenant took occupancy in August, 2003.

In June of 2003 VJ created a partnership to purchase a 43,221 sf athletic club located on 5.8 acres of land within a business park in Tempe , Arizona . The club, located near VJ's industrial building on 14th Street , had recently closed. During escrow VJ secured a credit tenant to lease 50 percent of the building. Tenant and site improvements have been completed and the tenant's long-term lease commenced in February 2004.

In September, 2004 VJ created a partnership to purchase a 30,000 square foot medical building located on 2.75 acres of land near the Chandler Regional Hospital. The building was 82 percent leased at purchase and has two leases being completed which will bring occupancy to 100 percent.

In November of 2004 VJ created a partnership to purchase 13 acres of vacant retail land at southwest corner or Crismon and Southern Avenues, Mesa. The property is adjacent to the 95 acre purchase made in March, 2000. The purchase was made in conjunction with a 47 acre sale a VJ partnership simultaneously made to a hospital, which will dominate the business park.

In June, 2005 VJ created a partnership to purchase 40 acres of business park land at the I-10 Freeway and 127th Avenue in Avondale, Arizona. The property is in a high-growth area with multi-family, industrial and retail construction active around it. Plan is to create industrial lots for sale and build some industrial buildings over the next four years.

All of the above acquisitions were based upon a comprehensive investigation of the marketplace and specific facilities. It is this due diligence combined with purchase structure that has enhanced their present values.

It is VJ Properties' intent is to be extremely active Owners in relations with tenants, lenders and investors. VJ Properties has proven itself to be a qualified surveyor of risk/reward and a cautious and adaptable investor within the real estate industry. This is accomplished with creativity, market knowledge and most of all ability.

Individual resumes are available.