Big K-Mart, Tampa, FL
Cash Flowing Dirt Deal
Scope of Assignment
To help a large family trust dispose of a 98,461 square foot property situated on 7.3 acres of land. This freestanding Big Box property had Big Kmart as the lease guarantor for 9 remaining years on an Absolute NNN Lease. The family wanted to liquid there real estate holdings so they could go their separate ways.
Our creative “Cash Flowing Dirt” spin on this property worked exceptionally well with this disposition. Within just 10 days of listing the property we generated 8 offers and created a bidding war amongst developers which drove the price up to $7,150,000 (96% of the asking price) with multiple backup offers in hand. 45 Days after the property hit the market it successfully closed in a very hasslefree escrow with the best buyer for this specific deal.