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May 24, 2013
Closed Sales

Glendale Town Center – Glendale, Arizona

The client owned a multi-tenant retail center in the urban core of the City of Glendale in Arizona. Similar to many properties in the area it featured a mix of small, regional, and single location retail tenants. Our client was from out of state and had improved the asset significantly since purchasing it. Having finished repositioning the asset, our client was looking to make their return and redeploy the capital into another growth opportunity.

Because our team had a long history with this particular client and asset, we were the natural choice to be the sales team. Our team created comprehensive tenant profiles that included the financial underwriting of each tenant, and added it all into a sales package. The sales package also included a full analysis of the sub market, including population density, retail expenditure numbers, traffic counts, employment drivers, and area amenities. Our Team then circulated a marketing piece through our vast investor database and numerous online marketing channels.

Through our team’s marketing efforts we were able to find an income property investor who was in a 1031 exchange. Because we had positioned the property with such a complete investment profile we were able to make the investor comfortable with the property and its tenants. This led to a relatively short and uneventful escrow process without a re-trade that ended in a successful sale at full asking price.