Acquisition Criteria
Acquisition Criteria: Single Tenant, Office and Retail Properties
Purchasers: Park Real Estate, Inc. We are principals, not brokers. Contracts executed by the corporation and assigned at closing to subsidiary single-asset entities owned by the principals.
Property Type: Freestanding single-tenant. Tenant or Owner occupied.
Location: Within 150-200 miles of Blacksburg VA, including western NC and eastern TN, but excluding the state of WV.
Market Characteristics: Secondary and tertiary markets. >40,000 population within five miles. County seats preferred. Positive population growth, diverse employment base, steady trend in HH incomes.
Preferred Tenant Type: Retail: Auto Parts, Consumer Electronics; Office: Legal, Government, Medical Office/Flex Space: Industrial: case-by-case review
Age: Open; if occupied, at least five years remaining on primary lease term.
Price Range: $1.0-$5.0 million
Pricing Benchmarks: Valuations based on trailing twelve month income, less reserves.
Financing: Cash Buyer; Existing loans can be assumed; Cash-to-mortgage may include defeasance.
Due Diligence Deliveries: Lease, survey, title report, mortgage docs (if applicable), photos, area demographics, list of major employers.
Closing: Typically a 30-day due diligence period commenced with LOI and/or contract; 30-days to close with extension available for lender or 3rd party delay.
Exchanges:Will accommodate seller exchange. Require Section 1031 language in contract and closing with a Qualified Intermediary.
Send us Your Property Information
If you have a property available that you’d like us to consider for acquisition we’d be happy to hear from you. Submissions directly from owners and brokers are welcome. We are not brokers and act solely as principals. We protect all broker/agent submissions on a first sight basis.
To submit bring your property to our attention we have several options:
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If you have a digital brochure or flyer available, please email it as an attachment (PDF files preferred) to acquisitions@parkrealty.com.
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You may complete our Property Information Form and email it to us at acquisitions@parkrealty.com.
You may also print the completed form and fax it to (540) 552-3457.
We will respond within two business days to indicate interest.
All submissions will be held in strictest confidence and circulated solely to our in-house staff. If you require a non-disclosure/non-circumvention agreement, please fill out the contact information and property description portion of our Property Information Form and email or fax it to us.
