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CHALLENGE
Gateway of Burbank proved to be a dominant grocery and drug store anchored shopping at the center of a dense infill location. The center had a wealth of credit tenants and all the ingredients for a trophy asset. Despite the center’s strengths, our team had to overcome logistical challenges that would concern many institutional investors such as its a typical layout, CVS’s healthy rent and near-term expiration, and the fact that Ralphs’ lease was set to expire in less than five years. Additionally, Gateway of Burbank had above market debt that needed to be defeated or assumed.
STRATEGY
Our main focus was to bring the asset to the market through an aggressive strategy and capitalize on our long-standing, institutional relationships. Timing was on our side as there was a current lack of grocery-anchored inventory on the market. We pushed value by creating a highly competitive environment, provided certainty that Ralphs would renew their lease, and would negotiate the loan assumption or defeasance process. Collectively, our strategy covered all possible objections and provided our institutional clients with the confidence needed to submit a bid on the asset.
RESULTS
We collected several offers and created a highly competitive environment. Our team ultimately sold the asset to a large institution at the highest price paid for a class-A retail asset since 2007. The sale was also the largest regional retail transaction for Colliers International in 2014.[/vc_column_text][/vc_column][/vc_row]
[vc_row el_class=”case-iconss”][vc_column][vc_custom_heading text=”RELATED SERVICES” font_container=”tag:h3|font_size:40px|text_align:center” el_class=”chanak”][vc_row_inner][vc_column_inner width=”1/3″][vc_icon icon_fontawesome=”fa fa-search-plus” align=”center” css_animation=”fadeInUp”][vc_custom_heading text=”THE DEAL FINDER
GAME PLAN” font_container=”tag:h2|text_align:center”][vc_column_text]
Our three step marketing methodology combines our unmatched experience and innovation to create an incomparable formula for success.
[/vc_column_text][vc_btn title=”LEARN MORE ABOUT OUR DEAL FINDER GAME PLAN” style=”flat” align=”center” link=”url:http%3A%2F%2Fsamkit.99webdesigns.net%2Fshoppingcenteradvisers%2Fthe-deal-finder-game-plan%2F|||”][/vc_column_inner][vc_column_inner width=”1/3″][vc_icon icon_fontawesome=”fa fa-compass” align=”center” css_animation=”fadeInUp”][vc_custom_heading text=”EXCHANGE
NAVIGATOR” font_container=”tag:h2|text_align:center”][vc_column_text]
Unique and intimate understanding of the property, its tenants, and the surrounding market.
[/vc_column_text][vc_btn title=”LEARN MORE ABOUT OUR EXCHANGE NAVIGATOR” style=”flat” align=”center” link=”url:http%3A%2F%2Fsamkit.99webdesigns.net%2Fshoppingcenteradvisers%2Fexchange-navigator%2F|||”][/vc_column_inner][vc_column_inner width=”1/3″][vc_icon icon_fontawesome=”fa fa-volume-up” align=”center” css_animation=”fadeInUp”][vc_custom_heading text=”MARKETING
PROCESS” font_container=”tag:h2|text_align:center”][vc_column_text]
Experienced story tellers with a proven track record with similar assets across the country.
[/vc_column_text][vc_btn title=”LEARN MORE ABOUT OUR MARKETING PROCESS” style=”flat” align=”center” link=”url:http%3A%2F%2Fsamkit.99webdesigns.net%2Fshoppingcenteradvisers%2Fmarketing-process%2F|||”][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]