NORTHGLENN MARKETPLACE

NORTHGLENN, CO

$48,000,000

439,063 SQ FT.

Northglenn-Marketplace

AT A GLANCE

  • $48,000,000 on 68% leased big box center.

  • Denver MSA

  • Perperty had lost numerous tenants under lender ownership (REO).

MARKETING STRATEGY

  • Coordinated with Seller to bring in local leasing team to develop leasing strategy for property, which translated into leasing momentum vis-a-vis letters of intent and lease negotiations.

  • Met with city redevelopment agency to identify public funds that were allocated for this property and aligned with marketing message.

  • Demonstrated to investment community successful repositiong plan of a big box center, a product type that was significantly out of favor at time of sale.

RESULTS

  • Through a carefully managed marketing and bidding process, generated more than 19 offerns ont he property.

  • Exceeded client's pricing expectation, and was significantly higher in price than competing firms' value opinions.

  • Located discretionary fund through Faris Lee's extensive investor network.