Single Tenant Net Lease Investment Property

Challenge

Our client, a real estate developer that specializes in BTS for County and State Government Agencies, acquired the subject property via foreclosure proceedings. Their plan was to redevelop the retail automotive site into office space able accommodate a government agency with an office requirement of approx. 40, 000 square feet. Shortly after acquiring the property the City re-zoned the area in a manner the precluded the development of any additional office product. After 4 plus years and three failed attempts by 3 other brokerages we were tasked with  finding a buyer for the performing asset.

Solutions

The goal of the seller was to achieve premium pricing at the then prevailing CAP Rate. Through the Utilization of our digital marketing platform, email and phone campaigns we were able to procure much interest and sourced multiple offers.

In addition, this transaction allowed our client to significantly strengthen their financial position and provided additional capital to be used for other Build to Suit opportunities netting higher returns.

Results

Offers: 4

Targeted Sale Price: $1,000,000.00

Final Sale Price: $990,000.00