Assignment
One of the nation’s largest non-profit organization’s, The Casey Family, retained the Pacific Real Estate Partners’ Investment Team as its exclusive advisor to sell its 80,000 SF headquarters and the approximate 4 acres of land suitable for high density development.
Objective
Casey required an option to leaseback a portion of the office building and secure a buyer that will develop a compatible use adjacent to Casey’s building.
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Challenges
Casey’s board expected a premium market valuation, while mandating a series of limitations to the type and scale of future adjacent development.
Results
Pacific Real Estate Partners’ Investment Team orchestrated a national campaign to attract a qualified developer and equity investor that would pay premium pricing. PREP received over 20 offers including multi-family, hospitals and office/retail development.
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