106-148 South Brand Blvd. Glendale, CA 91204
Old Navy, Home Goods, Linens & Things, United Artists Theater, Outback Steakhouse
The deal was originally under contract with another Buyer that wasn’t performing.
The Seller had a CMBS loan in place with a $5 million defeasance penalty
Through the team’s marketing channel they were able to locate a Buyer willing to pay a higher price than the first contracted offer.
Buyer removed contingencies in14-days and released $1 million as earnest money deposit.
The $5 million defeasance penalty was added to the purchase price, resulting in a substantial tax benefit to the seller.