Healthy Pets Success on a Challenging Listing

The Challenge:

Our Columbus Ohio Investment Sales team was hired by adeveloper client to find a 1–2 acre retail development site along Broadway,between I-270 and Columbus Road. Unfortunately, the initial deal fell throughdue to unexpected food and beverage (F&B) restrictions. On top of that, theCOVID-19 pandemic led to cost increases, which disrupted other potentialopportunities. Despite these setbacks, we were determined to find a solution.

The Process:

• Built a strong relationship with the site owner, leading to exclusive listing representation.
• Navigated restrictions and limited market demand for non-F&B users.
• Overcame setbacks, including a cannabis tenant who failed to secure licensing.

The Outcome:
We successfully secured Healthy Pets, a veterinary clinic, as the buyer for the site. The deal closed by the end of the year, with the property selling at92% of the original list price. Through persistence and adaptability, we were able to turn a challenging situation into a successful outcome for all parties involved.

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