GOLF CLUB RDOffice Complex Investment Sale
This Golf Club Road office complex was listed for sale as an investment opportunity yet its occupancy was only about 25% and the main tenant (and owner) planned to vacate.
Our client, the buyer, was interested but only if we could get its occupancy up to about 50% prior to closing.
With an abysmal office market in Thurston County, that was going to be anything but easy. Not one to shy away from a challenge though, Joni Baker got to work looking for tenants.
Joni teamed up with the listing agent from Coldwell Banker and they both started calling around, exhausting their networks, looking for anyone who would be interested in relocating to the Woodland District in the heart of Lacey.
Their plan was to tag-team the search and the negotiations since they both knew everyone would need to be on the same page, working in harmony for this deal to come together.
Within a few short months, Joni was able to land the Lacey Chamber Of Commerce as a new tenant in the building, bringing the occupancy up to approximately 50% and the deal closed shortly thereafter.
In procuring this tenant prior to closing, Joni’s client walked into immediate equity as a result of the increased net income from the new lease.
Our goal is to always create value in everything we do and this transaction is a great example of one of the ways we do just that.
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