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Project Outline
Beta
Sequim, LLC wanted to sell Bell Creek Plaza, a 150,000 square foot
grocery anchored center located on the Olympic Peninsula. The
center was located in a small retirement community and as a result
was not attractive to the institutional market. Andy Miller and
Dave Speers of GVA Kidder Mathews were selected to assist them in
their efforts. The assignment was to maximize proceeds to the
seller with a closing to occur after January 1, 2004. While the
marketing plan was all inclusive, an emphasis was directed at local
exchange buyers and retail investor groups.
Services Provided
How GVA Kidder Mathews
Added Value
A total of seven offers were received
and the selected buyer closed within 98% of the original asking
price of $11,300,000. Sale closed January 2, 2004 at $11,000,000 to
a local Seattle exchange buyer on an all case basis – no financing
contingency.
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Bell Creek Plaza
Sequim, Washington |
