AT A GLANCE
Rare bay area Costco shadow anchored retail center.
Primary retail food, service center serving immediate trade area with only new drive-thru in 1 mile radius.
Long-term leases with strong rental growth for investors over the holding period.
Pre-sale, we markted about 8 months before the tenats opened for business.
Very aggressive pricing at sub 5% cap rate.
Marketed to Faris Lee's proprietary buyer pool.
Showcased the strength of the location and tenant mix.
Received many competing offers within days of marketing the property.
Ultimately we selected the most competitive offer - all cash, hard money.
Buyer was private high net worth individual that lived locally.