CASE STUDY
Medical Condominium Sale & Building Acquisition
OVERVIEW
Client was located on Duke Raleigh’s Hospital campus which would ultimately become redeveloped and therefore needed to relocate its practice within proximity. Rich Commercial Realty was engaged to sell their existing location and later engaged to secure a new location for the practice.
RESULTS
Rich Commercial Realty, leveraging its expertise brought the deal to the market with a lease in place and negotiated best and final pricing terms prior to offering the deal to Duke Hospital whom ultimately acquired the space providing our client with favorable lease terms to terminate once a new location was secured. RCR identified a building up the street that was, at the time only available for lease and was able to negotiate a deal to purchase the building which was in need of an entire renovation. RCR worked with the lender to accommodate the needed TIA dollars to be bundled into the loan for the practice to complete and buildout their space.