This client sought the real estate investment expertise of our team to help acquire an income property leased to a creditworthy tenant on at least a five year lease. The client had specific price and geographic requirements and wanted an asset with both minimal management and maintenance involvement. These requirements limited the pool of properties our team could search within.
The client had an affinity for office condominiums since, at that time, they could be purchased for below replacement cost. The professional nature of the tenant base and the ease of common area maintenance were also a plus. Our team began with a survey of all office condominium projects within our clients geographic restraints, seeking out leased investment and sale-leaseback opportunities. Our team identified and reviewed several possibilities, ultimately settling on a sale-leaseback transaction in a desirable path of growth development. Our team negotiated the framework and details of a five year triple net lease with an owner occupant that operated an established executive office suite business.
Within 60 days of taking on the assignment, the buyer and seller were able to successfully close escrow. Both sides were happy with what they received from the transaction. The seller received capital to repay initial investors and our buyer received a low maintenance income property with minimal management responsibility.
“We were very happy with the results of this purchase. Even though I am an active residential real estate agent, we turned to Jeff’s team to negotiate the purchase of this leased office condominium.Jeff’s team negotiated the entire deal for us and when the Seller’s did not have a lease prepared for the lease back they even took care of that.We ended up with a very favorable lease agreement, a happy tenant and a solid investment.“
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