Highlights
- Size: 8,824 SF
- Sale Date: January 2014
- Property Type: Retail
NavPoint was engaged to sell this 9,000 SF+/- single tenant NNN leased bank asset located in Northeast Colorado Springs, Colorado. The challenge with this project was that there were just over 5 years remaining on the lease while the Seller had pricing objectives that aligned more closely with a 10 year lease.
The sales team was able to do significant underwriting on the credit and quality of the tenant and through the packaging of the asset, create a compelling story for the marketplace. A significant national marketing campaign was then undertaken on the asset.
Within days of going to market, there was significant activity on the asset and multiple offers. Ultimately, the sales team qualified a buyer and went under contract at 95% of asking price and closed an all-cash deal within 45 days.
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