SIG broker recently brought in buyer for a challenging grocery property in El Centro, CA. Despite plummeting stock and rising interest rates, SIG was able to get the seller $350,000 more than he would have taken as a bottom-line price on the property.
Working with SIG brokers is the best way to leverage top listings, lending, and marketing efforts. In this deal, SIG broker John Cigliano was able to successfully overcome stock and interest rate challenges to bring in a buyer for an El Centro commercial real estate property.
- Smart & Final For Sale – El Centro, CA
- Property Type: Grocery
- Deal Source: Recurring Client
- Client Type: Developer
- Price: $7,145,000
- The grocery store’s stock price plummeted just one month prior to listing
- Interest rates increased by 50 basis points two months immediately after the property went to market
- Sold property for $350K more than the seller would have taken
- Negotiated price reductions and closed deal at only $59,000 off asking price
- Brought in a buyer with all cash, 21-day escrow
- Over $4,500,000,000 in Closed Transactions
- Over $700,000,000 in Active Inventory
- Over 1,900 Transactions in 48 States
- Focused on Creative Marketing
- Net Lease Industry Leader
- Real Estate Forum Influencers in Net Lease 2019
- SC25 Fastest Growing Companies, 2017 & 2018
- Real Estate Forum Names SIG to Its List of Commercial Real Estate’s Fastest-Growing Companies, 2016 & 2015
- CoStar Power Broker Top Firm Awards, 2017 & 2016
Interested in acquiring a grocery property for consistent returns in your investment portfolio? SIG handles new loans on locations for clients who are seeking to expand their portfolio and acquire triple net 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 net lease experience helping clients find, secure, and purchase properties to round out their investment portfolio.