Stirling Investment Advisors was engaged in selling a unique investment property for a client in Baton Rouge, LA. The opportunity included a garden office building and a multi-tenant warehouse. The property was 100% occupied, well-maintained and located in a highly sought-after area near the Country Club of Louisiana. The office building served as back-office support for the primary tenant, a publicly traded bank; however, the short term remaining on the lease posed a challenge for potential buyers. Also, the property was not a triple-net lease, an arrangement that many investors have come to expect at the existing price point.
The SIA team set out to broadcast the property nationally through various commercial real estate syndicated sites. They also worked to collect and compile financial information on the property to deliver to potential buyers in an organized manner, which would greatly assist in expediting a sale. SIA’s methodical approach further allowed them to effectively manage and present multiple offers in a 72-hour timeframe for their client.
When timing, location and pricing are all in harmony, opportunities arise. The SIA team was able to secure a buyer for their client and close on the sale within 34 days of listing the property.
- SIA received and vetted three (3) offers on the property in the first four (4) days of hitting the market
- A local 1031 exchange buyer, an additional local buyer and a regional investment company submitted offers within 7% of the asking price
- The property garnered an 8.7% cap rate for the buyer
“Justin Langlois and Griffin Lennox were very diligent in their efforts to bring our investment property to the market. The team at SIA delivered on their promises, and we received multiple offers within a few short days of listing the property. Throughout the sales process, Justin and Griffin maintained communication with my partners and me. We were ecstatic with the results of the sale, and I highly recommend SIA for the acquisition and disposition of your investment property.” – Pat Haney