Seller | Sky Ridge Plaza

Sand Investment Group (“SIG”) represented the seller in the sale of the 140,000 SF Sky Ridge Plaza shopping center in Round Rock, Texas.  The SIG team was captained by Ethan Offenbecher, who counseled ownership on pricing and created and implemented a highly effective marketing plan. The property was originally built in 1987, acquired by the Seller in 1994, and is configured with approximately 30 tenant spaces, many of which are local businesses on 3-5 year leases.  After creating and thoughtfully distributing a comprehensive offering memorandum,  Ethan conducted a call for offers, resulting in seven acquisition proposals. The buyer selected from this process closed at 96% of list price, which was a remarkably good outcome considering the additional due diligence triggered by the nature of the tenancy and physical condition of a 35 year-old center, plus the generally rising interest rate environment from the call for offers until closing.  The SIG team got the job done!  -Allan Reagan, Seller