Sands Investment Group (SIG), one of the nation’s fastest-growing net lease brokerage firms, has completed the sale of a 70,000-square-foot office space in Huntington, West Virginia. SIG net lease broker offer unparalleled coverage of buyers and sectors in commercial real estate – nationwide.
In this transaction, SIG lead broker Teddy Leonard, along with co-broker Matson Kane, were able to assist their client in the successful acquisition of this 70,000 SF Amazon Customer Service property in Huntington, WV despite many challenges that arose in March at the end of the transaction due to the pandemic. SIG got involved on a local level by setting up meetings with local officials, including the Huntington Mayor, and the leaders of the investment group to alleviate concerns the investors had in the deal.
- Amazon Customer Service, Huntington, WV
- Property Type: Office Space
- Client Type: Private Equity Buyer
- Price: $16,851,771
- CAP: 7.00%
- Challenge 1: First large-scale transaction for the Buyer. The Seller needed to be made comfortable with their ability to close the transaction.
- Challenge 2: Asset in secondary market.
- Challenge 3: 70,000 square foot building with large rent presented some challenges to provide sale/rent comps.
- Placed the client goal as a top priority which was looking for an investment grade tenant with a 7%+ yield.
- Pandemic wiped out 30% of the committed money in syndication and buyer had to get creative to find replacement investors two weeks before closing.
Interested in acquiring an office property for sale to add consistent returns in your investment portfolio? SIG handles new loans on locations for clients who are seeking to expand their portfolio and acquire NNN properties in all different niches. When the goal is growing an investment portfolio with specific properties, you can’t trust a typical real estate agency to walk you through the process. SIG is a commercial real estate brokerage firm with a wealth of experience helping clients find, secure, and purchase properties to round out their investment portfolio.