Single Tenant Net Lease Investment Sale – Glendale, Arizona
The Client owned a single-tenant net lease asset, a former service station that was converted to stand alone retail and leased to a regional car insurance provider. Our client was looking to downsize their portfolio and sought the expertise of our team to help them achieve the maximum exit value.
Our team prepared an appealing sales package highlighting the properties strong location on two major streets. The package also provided evidence that the property had been fully remediated from its former use. We also fully underwrote the asset and created a full tenant profile and investment pro forma which allowed us to present the property as an ideal investment in that market. Using our national database and diverse marketing channels, a potential buyer came forward from an outside broker. The financing terms that the potential buyer was given by lenders were not favorable and our team was able to use our experience to negotiate a short term seller carryback.
The carryback provided our client an exit from the property while still being able to maintain some cash flow for that short term. Both parties were happy with what they received out of the transaction.