Gateway Shopping Center-Full Service Brokerage

About the Investment

Initially brought on by the Landlord to lease the 5,000 SF of vacancy at the 15,696 SF strip center in Ontario, OH. We successfully executed 3 separate lease transactions and brought the property to 100%occupancy. Once stabilized, we positioned the property on the market for sale at an 8.18% cap rate and closed within 60 days at$2,000,000 (8.50% cap). This project showcases our full-scale brokerage capabilities, from lease up and stabilization, to ultimate disposition.

‍Challenges

• Ontario is a small tertiary market of OH
• Interest rate environment started to become problematic in Q1 2023
• Anchor tenant (6,000 SF) had an expiring lease at the end of 2023

‍Solutions

• Selected accredited buyers to position the property to that have executed in markets such as Ontario
• Focused on cash buyers and had debt quotes in hand from lenders to provide to prospective buyers
• Negotiated the early exercising of the anchor tenants option to get the buyer more comfortable with the upcoming expiration

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