In last month’s article we looked at Navigating a Tight Real Estate Market, and in today’s follow up piece, we will build on that idea to further assist you in any industrial property search. As we start, we need to ask ourselves the question, “Is there a ‘perfect’ building?” Well, not to keep you in suspense, the answer is, ‘sometimes.’ So, let’s look at 3 relevant criteria to evaluate what the ‘must haves’ are and the ‘we can live with-outs’ with your next property search.
Let's Take a look at the 3 criteria...
In the current real estate market Sellers of commercial property looking to complete a 1031 tax deferred exchange must be focused and ready to complete their exchange. Additionally, the help of a knowledgeable and responsive real estate agent who can facilitate a successful transaction for you may make all the difference. If you are or have recently sold an industrial or commercial building and are identifying replacement property, perhaps looking at a retail net leased investment is a good alternative for you to consider.
Call us to today to discuss your exchange requirement!
Our team recently represented the Buyer of this multi-tenant net leased retail property with two strong corporate tenants. Starbucks and Mattress Firm had both recently signed brand new 10 year leases on this build to suit new construction site, and the developer looked to sell this property as an investment. We engaged the Sellers agent and represented the Buyer on the close of this transaction, negotiating a favorable above average CAP Rate, closing the transaction on time for the Buyer.
Christopher J. Destino, SIOR, a Principal at Lee & Associates, is an engaging, responsive professional who enjoys working closely with his clients and helping them succeed.