Assignment
This 29,140+ SF Office Building was approximately 90% occupied at the time of engagement with strong NOI and great upside in rents for a Buyer. The ownership was ready to sell the asset and needed a strong sales team to secure a Purchaser, although not knowing we would be navigating through the start of a Pandemic.
Solution
The Sales Team was able to secure a purchaser in less than 3 months and the Property was under contract in January 2020. March 2020 came, and the beginning of a Pandemic made the due diligence period very difficult. With the help of NavPoint and its strong Sales Team, we negotiated through some challenging outlooks, lending issues and uncertainty.
Outcome
The property was sold and closed on April 10, 2020 providing both the Buyer and Seller with a very successful transaction.
List Price: $3,700,000
Sold Price: $3,525,000
Time on Market: 172 Days
