Date: February 2012
Labeled: Owner User Sales
Size: 6,700 SF
City: Walnut Creek
Off Market sale of a medical office building. Seller and Buyer were represented by Eric Erickson and Drew Malm of Colliers. We learned of the opportunity through the first floor tenant. After the tenant passed on the opportunity, we presented the building to the Buyer. Buyer had been in the market for 18 months looking for a property to purchase and move his practice. Buyer eventually occupied 2nd floor. We prepared a transaction pro-forma and projected a return to the Buyer of 18% IRR with rents in the fair market range. Financing was conventional.
