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Buy-Side Broker
Mike Knudsen
Managing Principal
Broker
San Marino, CA
Is Looking For
IMMEDIATE 1031 Requirement: STNL deals between $4-6MM
Acquisition CriteriaDescription:
Summary: Well capitalized, experienced commercial real estate investor seeking fundamentally sound single tenant net lease acquisition opportunities in Top 20 MSAs across the United States to complete active 1031 exchange transaction
Timeline: ID deadline approximately 25 days away as of 2/5/20
Yield: Willing to sacrifice firm term length for quality real estate deals with high intrinsic residual land values that can be had as close to a minimum 5% entry cap rate as possible
Deal Size: All cash up to $5MM to complete exchange -- will assume debt up to $6MM total purchase price for right opportunity; will acquire multiple properties
Lease Structure: Ideally absolute NNN, but will consider double nets; investment-grade corporate guarantees heavily preferred, but will sacrifice credit for quality of underlying dirt; rent must be in line with the market at worst, ideally below market -- willing to sacrifice firm term in exchange for this scenario
Likes: Auto parts and service (particularly Bridgestone Firestone), corporate-backed fast food. Raleigh, NC is example of ideal target market. Will consider similar to superior MSAs across country
Dislikes: STNL deals located in tertiary markets where valuation is correlated with quality of corporate guaranty and lease structure rather than underlying real estate; pharmacies, grocery stores and big box tenants
Listing Types:
Retail
Price Range :
$4,000,000 to $6,000,000
Locations:
Washington, USA
Oregon, USA
California, USA
Arizona, USA
Utah, USA
Nevada, USA
Colorado, USA
Texas, USA
Tennessee, USA
Georgia, USA
Florida, USA
South Carolina, USA
North Carolina, USA
Virginia, USA
New York, NY, USA
New Jersey, USA
Maryland, USA
Delaware, USA
Massachusetts, USA
Details:
Cap Rate:
Over 4.85%
Last Updated: 02/08/2020
Created: 2020-02-06T02:36:03Z
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