CASE STUDY
Medical Building Sale Leaseback
OVERVIEW
Engaged by Owner-Occupant for the disposition of an existing 3,200 square foot medical office building in Durham, North Carolina. Negotiate a profitable sale that allowed our client to retain occupancy/tenancy of the property and secure a long-term lease commencing upon closing; while also affording them the ability to extract cash out of their real estate since making significant renovations to the space. The entire sale process was to be to be conducted in a manner that allowed the practice to maintain uninterrupted service to their patients throughout.
RESULTS
With a strong market demand for income producing investment product within the Triangle, low supply, and historically low interest rates, the timing was optimum for a quick sale at a peak price. Rich Commercial Realty worked with the client to position the asset as a low risk, low maintenance opportunity. The team was able to bring multiple offers to the client, go under contract within one week of listing the property, and achieve a record-high square foot price for the submarket.