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  • Sold
Tire Discounters - Knoxville, Tennessee - #1
Tire Discounters - Knoxville, Tennessee - #2
Tire Discounters - Knoxville, Tennessee - #3

Sales Price: $3,250,000
Cap Rate: 5.75%
Guarantor: Corporate
Term Remaining: 15 years
Rate Increases: 5% x 5 years

Almost a year-long assignment due to COVID-related delays, our clients ultimately satisfied their 1031 exchange from the sale of their Oakland apartment building with the acquisition of two (2) net lease assets. This allowed for geographic diversification across two (2) of the most popular industry profiles: food and auto. Furthermore, our clients avoided the fluctuation in their apartment rent roll brought on by COVID by securing a steady and reliable income stream that doesn’t require active hands-on management.

"It’s a testament to the professionalism on both of the Colliers teams we worked with that despite the craziness of 2020 and all the ups and downs, this has been a positive experience for us." - Chris

  • 10/01/2020
  • Brand new construction with fantastic curb appeal. Prominent reatil corridor with national tenants: Lowe's, Home Depot, Walmart, Chick-fil-A, Starbucks, McDonald's, CVS, and Walgreens. Structured a rent credit in favor of our clients while closing was delayed to address survey-related issues. Negotiated during height of shelter-in-place, with pricing fixed in favor of Buyer despite post-construction increase in rent.