Assignment
This 51,000 SF +/- Industrial asset was approximately 40% occupied at the time of engagement which required the leasing and sales teams to coordinate sourcing additional tenants and net income to establish a marketable occupancy and NOI level that also accomplished Sellers pricing objectives.
Solution
The sales team was able to secure additional occupancy in the form of two tenants that decreased vacancy by nearly 20% while adding additional NOI of over $56,000 and increased asset value by more than $650,000. This additional income created a more compelling marketing story.
Outcome
Prior to the start of a national marketing campaign, NavPoint was able to source a local investor through its client database and get the property under contract. The asset ended up closing within 60 days while meeting the client’s exit pricing objectives.
