Case Study

Best Little Warehouse in Texas

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Seller Profile

Private local operator preparing for retirement
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Buyer Profile

Private national operator
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Property Profile

Single story, non-climate built in 1985

The Story

  • Number of bids: 10
  • Certainty of close was more important to the sellers than getting the absolute highest price.
  • Classic value-add story: current occupancy & rates well below average for the submarket.
  • 227 down units – CapEx required to have units in rent ready condition.
  • Very strong interest came from private equity backed groups and private operators.
  • During Call for Offers process, the eventual buyer was aggressively trying to differentiate their offer from the other offers.
  • The buyer ultimately won the bidding process by putting up a $300,000 non-refundable deposit day one with no contingencies.

Value Creation

With a guaranteed closing the seller was able to begin retirement early and sail off into the sunset.

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100% of our firm’s time, effort, and energy are devoted to you and your goals as a seller. We guarantee that we will generate the highest price and best terms for your property that the market will bear at that moment in time.

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