Date: August 2015
Labeled: Owner User Sales
Size: 17,000 SF
City: Walnut Creek
After several unsuccessful attempts to market a large space that was vacant for years, we were engaged to lease the property for the owner as a referral from the property manager. The Tenant on the second floor was the last occupant of the first-floor premises and was growing. In lease renewal negotiation the tenant stated that they were interested in purchasing a property. The owner asked us to prepare a sale vs lease analysis for them and counsel them on reinvesting the sale proceeds. The Tenant asked us to prepare a lease versus buy analysis. And, after several months of negotiations, the parties agreed to terms and we were in contract.
Eric Erickson and Brian Clack from Colliers represented both parties along with Gene Ross, the property manager. The Buyer used an SBA 504 Loan which was provided by Compass Bank and Bay Area Development (Joe Lampe).
