CHALLENGE
When the two warehouses at 3610 Reed Street were listed by a competing brokerage, Linville Team Partners quickly identified it as an incredible opportunity for an investor client to purchase and reposition. They were being marketed as an investment sale but were best suited to be sold to an owner-user at a higher price. Within the first two days of listing, an offer was made on the properties, a contract was negotiated, and they were purchased quickly.
ACTION
The properties were then held for 12 months while the existing tenant completed their lease. Prior to the tenant’s lease expiring, they were relisted for sale at more than double the prior purchase price. Over the course of six months the properties were shown numerous times and a purchaser was secured who would purchase the property, occupy half, then lease the other half.
RESULT
Once the transaction closed, Linville Team Partners was hired to help with the leasing. Within ninety days a tenant was procured for the warehouse not being occupied by the purchasers. This property ended up resulting in three different ‘win-win’ transactions over the course of 18 month.