COMMERCIAL
Our team of expertise has been in the retail leasing and sales sector for almost 20 year and specializing in single tenant triple net lease space for about three quarters of that time. Our team has been involved with these vacant pharmacy properties specifically over the past decade as an exclusive listing broker and asset manager for the world’s largest pharmacy retailer tasked with this exact same job of leasing, subleasing, ground leasing, redeveloping and selling their dark assets.
The Property Type Mix
The property type mix is solely driven by tenant interest, and of that, the ultimate highest & best use and yield for each individual site. All the properties are marketed for all three property types (lease existing structure, ground lease and build-to-suit) but the direction it takes is determined by the individual sites tenant interest and how their concept conforms to the existing building, site or their companies standard new store development program.
To pursue any one property type format only we would be handicapping the potential of a site considerably. By doing that, we would need to accept considerably discounted rental rates below average on some sites and take less than highest & best uses for others ultimately leaving us with longer on market timing, lower yields and vacancy still. All sites are pursued to in all property type repositioning because the same tenant interest and format does not work the same on all sites. Some tenants can use the existing buildings but allot more may be just interested in the land itself and its location for their own concept. The property type mix ratios provided are just estimates from my firsthand experience and common practices of expected tenant activity and will vary.
Investment Opportunities
5th Elevation
BE PART OF OUR SUCCESS
Our mission is to continue and deliver on its promise of providing our customer the best product available in the market and providing our investors the best yield for their investment.