Sales Price: $7,247,917
Cap Rate: 6.55%
Guarantor: Investment Grade Credit (BBB)
Term Remaining: 14 years
A longtime client of ours, JENS Corporation re-engaged us to reposition their real estate portfolio, this time trading out of two (2) properties in favor of a single quality investment that was more in line with their investment goals.
"This is my fourth transaction with the Colliers team and I will continue to rely on their expertise when making any real estate decisions." - JENS Corp
- Our team sourced a strong drugstore investment with fourteen (14) years remaining on the lease at above a 6.5% cap rate. The area offered steady growth and average household incomes in excess of $100K. Reported sales at this location are well above the national average for Walgreens. Particularly challenging was negotiating a longer escrow for the acquisition of the Walgreens in order to accommodate the sale of both their Family Dollar and 24 unit apartment building, as the client was not interested in structuring the transaction as a reverse exchange.