600,600 SQ FT.
AT A GLANCE
Property is anchored by Dick’s Sporting Goods, Kohl’s, and Sears.
Faris Lee Investments generated more than 8 offers on the property
Buyer acquired the property with a 60% LTV loan
Property type is the most challenged retail product type in the market today.
The Bon Ton filed for bankruptcy and closed during middle of escrow
Potential co-tenancy adjustments to Notice of Intent are significant if Sears also closes.
Marketed broadly to company’s investor database.
Met with investors in person to overcome objections and emphasize attention to Janesville Mall, and explain features and benefits.
Emphasized key strengths of being the only mall within 30 miles.
Sourced more than 8 offers.
Sourced 60% LTV financing for closing.
RockStep Capital had a reputation for resolving problems and closings on challenged assets including enclosed malls.