The client was in a 1031 exchange and unfamiliar with the market. He was primarily looking for multi-tenant industrial or retail investments.
The client was hesitant when the Crocker | McKean Team brought him this single tenant deal. He needed to be comfortable with the strength of the tenant and have a clear, realistic understanding of what would happen when the tenant vacated.
The client became comfortable with the deal and saw the vision for the investment. The team ended up closing on this with a 21-day escrow.
The client was able to wait until the tenant vacated and sold to an owner user for $2,850,000, which means that he was able to generate a 67% ROI for a 25 month hold period.