Single Tenant Net Lease Properties Sold: Golden Corral – Weslaco, Texas
Challenges:
- Older building located in small market in southern Texas.
- Less than 3 years remaining on lease.
- Seller required immediate disposition so that proceeds could be used to fund an alternate property that had already been identified.
Solutions and Services Provided:
- Highlighted Golden Corral’s history at the location, recent building renovations, and strong rent/sales ratio to help prospective buyers understand the high likelihood of renewal.
- Aggressively promoted the property to nationwide investor pool and generated multiple offers at asking price within 3 days.
Results:
- Ideal buyer was identified that also had a quick close requirement. Transaction was completed within 2 weeks of initial offering.
- Was highly involved in discussions directly with Tenant regarding their misinterpretation of a lease provision so that all parties were comfortable proceeding.
- Worked closely with Seller and Buyer to ensure timing specifications were achieved.
For expert assistance in buying or selling single tenant net lease properties, contact HighStreet Net Lease Group.
