122 E. 2nd Street
Location: Tifton, Georgia
Status: Acquired October 2016 and completely renovated throughout 2018. Sold to commercial office operator February 2021.
31 North Capital Partners acquired 122 E. 2nd Street in October 2016 for the purpose of establishing commercial office space for a former financial services subsidiary, 31 North Wealth Management. The historic downtown structure was built in 1915, utilized as a furniture restoration workshop for European imports throughout the 20th century, but completely vacated by the mid-2010's.
Following its acquisition of the property, 31 North totally demolished the patchwork of temporary workspaces that then comprised the building's interior and embarked on a complete renovation of property. The final result was a modern space that nods to the characteristic industrial influences of early 20th century architectural design. Once renovations were completed, 31 North stabilized the building's cash flows and profitably sold the asset to a commercial office operator.