CrownPoint Partners Successfully Completes Hardee's Sale in Grovetown, Georgia
CrownPoint Partners, a prominent real estate brokerage, has successfully closed the sale of a Hardee's property located in Grovetown, Georgia. This transaction is notable as it reinforces CrownPoint's ongoing relationship with the seller, who is a repeat client. Historically, this partnership has resulted in approximately six successful transactions.
The sale was executed at an impressive 92% of the original listing price. This achievement demonstrates CrownPoint's ability to effectively navigate the complex landscape of commercial real estate. What made this sale particularly challenging was the tenant's announcement of their intent to vacate the premises despite having more than 12 years left on the absolute net lease.
In light of this announcement, CrownPoint Partners employed a unique marketing strategy that broadened the appeal of the property. Instead of focusing solely on its status as a traditional net lease investment, the firm reached out to various buyer profiles, which included owner-users eyeing occupancy, developers assessing redevelopment potential, and opportunistic investors willing to navigate the complexities tied to the tenant vacancy and lease obligations.
Ultimately, the property was purchased by a private investor from the Tristate area. This buyer recognized the nuances of the tenant's anticipated vacancy while appreciating the existing contractual obligations tied to the lease. The entire transaction was completed in cash within a swift timeframe of 90 days.
Shannon Bona, Managing Partner and Co-Founder of CrownPoint Partners, emphasized that "transactions like this require a different approach than a traditional stabilized net lease sale." He noted that once the tenant's plans to vacate were made public, CrownPoint shifted its focus toward attracting a wider array of potential buyers. This strategy involved articulating the value of both the existing lease obligations and the underlying asset, which in turn, fostered competition among various buyer segments.
This sale not only highlights CrownPoint's adaptability and innovative strategies but also expands their ongoing engagement with the seller. Currently, CrownPoint is representing the client in a 1031 exchange acquisition, which is expected to close towards the end of October. This further underscores the evolving nature of their relationship—from initially assisting the client in building a robust portfolio of net lease assets to now managing strategic dispositions and future acquisitions.
Founded by experienced industry leaders Julius Swolsky, Shannon Bona, and Don Bingham, CrownPoint Partners is committed to providing comprehensive services throughout the investment journey. With offices in West Palm Beach, Florida, and Newport Beach, California, the firm specializes in assisting clients from various sectors, including REITs, private equity firms, developers, and individual investors. Their Net Lease Investments and Sale-Leaseback platforms are meticulously tailored to meet the unique needs of each client, encompassing investment sales, acquisitions, corporate expansion, and capital optimization strategies.
CrownPoint is dedicated to fostering strong, enduring partnerships built on principles of transparency, consistency, and responsible investment practices. The success of the Hardee's property sale is a testament to their expertise and dedication to helping clients realize their long-term financial aspirations.
The sale was executed at an impressive 92% of the original listing price. This achievement demonstrates CrownPoint's ability to effectively navigate the complex landscape of commercial real estate. What made this sale particularly challenging was the tenant's announcement of their intent to vacate the premises despite having more than 12 years left on the absolute net lease.
In light of this announcement, CrownPoint Partners employed a unique marketing strategy that broadened the appeal of the property. Instead of focusing solely on its status as a traditional net lease investment, the firm reached out to various buyer profiles, which included owner-users eyeing occupancy, developers assessing redevelopment potential, and opportunistic investors willing to navigate the complexities tied to the tenant vacancy and lease obligations.
Ultimately, the property was purchased by a private investor from the Tristate area. This buyer recognized the nuances of the tenant's anticipated vacancy while appreciating the existing contractual obligations tied to the lease. The entire transaction was completed in cash within a swift timeframe of 90 days.
Shannon Bona, Managing Partner and Co-Founder of CrownPoint Partners, emphasized that "transactions like this require a different approach than a traditional stabilized net lease sale." He noted that once the tenant's plans to vacate were made public, CrownPoint shifted its focus toward attracting a wider array of potential buyers. This strategy involved articulating the value of both the existing lease obligations and the underlying asset, which in turn, fostered competition among various buyer segments.
This sale not only highlights CrownPoint's adaptability and innovative strategies but also expands their ongoing engagement with the seller. Currently, CrownPoint is representing the client in a 1031 exchange acquisition, which is expected to close towards the end of October. This further underscores the evolving nature of their relationship—from initially assisting the client in building a robust portfolio of net lease assets to now managing strategic dispositions and future acquisitions.
Founded by experienced industry leaders Julius Swolsky, Shannon Bona, and Don Bingham, CrownPoint Partners is committed to providing comprehensive services throughout the investment journey. With offices in West Palm Beach, Florida, and Newport Beach, California, the firm specializes in assisting clients from various sectors, including REITs, private equity firms, developers, and individual investors. Their Net Lease Investments and Sale-Leaseback platforms are meticulously tailored to meet the unique needs of each client, encompassing investment sales, acquisitions, corporate expansion, and capital optimization strategies.
CrownPoint is dedicated to fostering strong, enduring partnerships built on principles of transparency, consistency, and responsible investment practices. The success of the Hardee's property sale is a testament to their expertise and dedication to helping clients realize their long-term financial aspirations.
Topics General Business）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.