BBR shops small towns and urban areas as well as suburbs. The company typically closes quickly for all cash but will consider leveraged deals. The private, family-owned partnership will consider buildings of any age and looks to hold properties for the long term. Mani relies upon its narrow, local focus and extensive connections to ferret out excellent deals. The seller was a partnership in which Signal Mortgage was majority partner.
Office space is rare in the mostly retail and restaurant district.
This induces entertainment firms to fight for space. Current tenants include Whitney Houston's production company, corporate offices for the House of Blues and Gibson Guitar. The properties are leased to Eagle Hardware through 2107. The existing lease will be amended to provide for a new 15-year term. Rent will be subject to periodic fixed increases.