Retail Case Studies
This was a brand new drive through Starbucks with a ten year corporate signature lease on one of the busiest streets in Scottsdale. However, the Arizona commercial real estate market had been particularly affected by the downturn. We had a client who believed in the area and the tenant, but required a significantly above average return. We negotiated a 9.6 cap rate contingent on the deal closing for all cash and successfully closed the transaction in 10 days.
This free standing Dollar Tree was a complete remodel of a former Sears store with a brand new 10 year corporate guaranteed lease. The site was selected by Dollar Tree as tailored for its demographic requirements. The stated CAP rate is based on existing income. Moreover, there is a second floor of 15,000 square feet that can be built out and leased providing significant additional income to the Buyer. Recognizing the inherent value, we had the client with the resources and capability to close the transaction all cash.