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2004 : BAUM REALTY GROUP ARRANGES $20.8 MILLION RETAIL ACQUISITION IN SPOKANE, WASH. Phoenix-Based Investor Acquires 105,000-Square-Foot Property Leased To Home Depot Nov. 11, 2004 Underscoring the strong investment climate for net leased properties with strong credit tenants, Chad Firsel of Baum Realty Group, Inc. has arranged the acquisition of a 105,000-square-foot big box retail facility in Spokane, Wash. leased to Home Depot. Located at 9116 N. Newport Hwy., the property was acquired for $20.8 million by Phoenix-based Cole Company, a private company that forms Tenant In Common (TIC) investments. The seller was a private developer based in Spokane. Home Depot occupies 100% of the property, which was developed in 2000, and has 16 years remaining on a long term lease. "All aspects of this transaction flowed exceedingly smoothly," said Baum Realty Group's Firsel, who coordinated from Chicago with his client in Phoenix and the seller in Spokane. "Within 60 days due diligence was completed and the transaction closed." |
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1030 W. Chicago Avenue :: Suite 200 :: Chicago, IL :: 60642 :: P: 312.666.3000 :: F: 312.666.7970 :: info@baumrealty.com |
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