A longtime client made the decision to sell a property leased to Circle K Corporation. The lease was a (NNN) triple net lease with only eight years remaining. With the limited time until expiration, financing was an issue and required a buyer who had all cash or one who had substantial equity. This significantly reduced the buyer pool.
Our team created a targeted marketing plan focusing on private local and national investors.
We used our extensive investor and broker database and the Sperry Van Ness national marketing platform, along with exposing the property on all major web portals. In addition, we implemented an old fashioned targeted cold calling campaign.
We generated interest from over 100 potential investors and spent considerable time weeding out those investors who were unwilling to meet the seller’s expectations. We eventually located a qualified local buyer who was confident they could replace the tenant, if necessary. As a result, we were able to meet the Seller’s expectations and the Buyer obtained an
acceptable return and a well-located property.