Challenge:
A challenge we faced with this property was that although the strip center was fully-occupied, it is located on the Sunrise Hwy service road instead of directly on Sunrise Hwy.
Additionally, the tenants were paying below market rents.
Our task was to find a buyer that saw potential in this location and who was seeking an investment.
Action:
The seller signed our exclusive right-to-sell agreement which allowed us full marketing rights to the listing. Visibility and exposure are key to bringing buyer activity to our real estate listings.
Our marketing efforts resulted in over 57,860 total views and 228 buyers that interacted with the listing.
Our President, Ron Koenigsberg, remained readily accessible to answer any questions the buyers had and frequently spoke with the seller regarding any listing updates.
Through our marketing efforts, we attracted the ideal buyer for this property. This is the purchaser‘s first strip center acquisition.
Result:
The buyer presented an all cash offer of $5,300,000 that was accepted by the seller. This strip center sold at $238 price per square foot. Ron Koenigsberg represented the seller on this sale.
View more of our sold properties here.
Thinking About Selling Your Commercial Property?
Our team can provide you with a complimentary property evaluation. This 30+ page report includes financial analysis, sales comps, demographics, strategic marketing plan and more on your property.
Request your confidential property evaluation today.
