Iron Horse Shopping Center

Challenge

• Property was in receivership and scheduled for an early January Auction.
• Seller gave us 3 weeks to sell the asset to avoid the Auction.
• Could not fully expose the asset to the open market.
• Property was distressed but pricing expectations were strong.
• Had to find and deliver with a buyer during the winter holiday.

Strategy

• Positioned the property to three buyers.
• Leverage national teams’ relationships.
• Utilize local team to tell the local story.
• Position the offering as exclusive.

Results

• Received two offers within a one-week period.
• Sold the asset in 21 days without any price reductions or listing extensions.
• Delivered for a top client during the holidays.
• Took over the leasing of the property and helped stabilize and execute on the properties business plan.