439,063 SQ FT.
AT A GLANCE
$48,000,000 on 68% leased big box center.
Perperty had lost numerous tenants under lender ownership (REO).
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.
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.