B+E, the first brokerage and technology platform for net lease real estate, today announced the sale of the vacant Art Van Furniture located in the Chicago MSA for $9,000,000.
The seller, as an owner of NNN leased property, was able to liquidate this asset at a strong sale price for a vacant property at approximately $125/SF.
“We were excited to leverage our marketing platform to sell this asset after it went dark due to a tenant bankruptcy,” said B+E broker Tim Hain. “This is another proof point that our leased-asset sales model capabilities also successfully sell vacant property.”
B+E helped navigate a challenging approval process by an adjacent property owner to complete the transaction for the buyer and seller. The B+E Chicago office worked with the Chicago-based developer and value-add buyer to under-write and execute the acquisition on this transition from a single-tenant to a multi-tenant property.
For more information, contact Tim Hain at email@example.com
B+E is a modern investment brokerage firm, specializing in net lease real estate. The firm helps clients buy and sell single tenant real estate. Founded by deeply experienced brokers, B+E redefines trading through an intuitive end-to-end transaction platform consisting of user-friendly dashboards and an AI-driven exchange — all leveraging the largest data set in the net lease industry.
Complementing senior talent with exceptional technology, B+E’s proprietary process affords greater speed, unrivaled transaction efficiencies, and stronger asset value. With offices in New York, Chicago, Atlanta, Tampa, Charlotte and San Francisco, its brokers trade property for clients across the US. B+E allows virtually anyone to confidently trade net lease real estate.
Source: Digital Journal