BEST BUY

KENOSHA, WI

$6,600,000

 

Best Buy Resized

AT A GLANCE

  • Single Tenant

  • 30,000 Square Feet

CHALLENGES

  • Aggressive Pricing in the Downturn Economy

  • Short Term Lease (8 Years Remaining on 10 Year Lease)

  • Virginia LP Lease Signature (No Corporate Guaranty)

  • Not Absolute NNN — Landlord Responsible for Roof and Structure

  • Tertiary Market

  • Major Parking Lot Asphalt Damage 

MARKETING STRATEGY

  • Major Parking Lot Asphalt Damage 

  • Position the Strength of the Virginia LP Subsidiary

  • Get All the Contingencies Released Subject to the Parking Lot Repairs

RESULTS

  • Closed with REIT Buyer from Arizona

  • 7.73% CAP vs. Other Best Buys Closing North of 8.0% CAPS

  • Closed at 94% of List Price / $220 PSF