Chris Richardson, CCIM and Jason Otter of LOGIC Commercial Real Estate represented an exchange buyer in an off-market transaction on busy South Rainbow corridor in the Southwest. The property at Rainbow and Santoli was a 100% occupied 22,400 SF multi-tenant retail building. The transaction closed at $8.5MM and a 7.5% capitalization rate. Through the process, Richardson and Otter were able to assist the buyer in reviewing multiple off-market properties, selection, diligence and closing.
• Represented exchange buyer
• Off-Market property on S. Rainbow Blvd., directly across from Smiths grocery anchored center.
• 100% Occupied Multi-Tenant Retail Center
• New Construction; Completed in 2017