205 Frasier Street
Durham, North Carolina
TRANSACTION VALUE
$5.5 Million
TRANSACTION TYPE
Sale-leaseback
PARTY REPRESENTED
Seller
SIZE
15,542 sf
Sale-leaseback to 1031 exchange investor
On behalf of a physician group, Avison Young facilitated a sale‐leaseback of their 15,000 sf Durham location to a 1031 exchange investor.
Challenge
Originally designed and constructed specifically for use by an independent medical practice, a 20‐year‐old building in Durham owned by the physicians had significant equity appreciation that the partners wanted to unlock to redeploy into their practice and facilitate distributions.
Action
Leveraging understanding of and expertise in commercial real estate and financial markets, Avison Young established favorable leaseback parameters at an aggressive price, taking advantage of the low‐yielding capital markets, and embarked on a broad marketing campaign, presenting the opportunity to local, regional and national investors from individuals to institutions.
Results
Avison Young navigated a multiple offer situation to sell the property at the original asking price under the originally stipulated lease terms within 6 months of signing a listing agreement.
ADDITIONAL EXPERIENCE
Cary Medical Pavilion
Transaction Type: Investment Sale
66,928 sf | Two multi‐tenant medical office buildings for sold for $8.9M to a regional investor for a partnership of local physicians.
Allergy Partners
Transaction type: Lease
7,162 sf | Creative solution to secure a lease space and accommodate client's expansion requirements with over $500K in savings to the tenant.
Macon Pond Road
Transaction type: Investment sale
4.32 acres | Owners sought guidance on how to position and market the property to maximize sale proceeds.
Smile Design
Transaction type: Lease
3,642 sf | On behalf of landlord, Avison Young secured an established, strong credit tenant who committed to a 10-year lease with no down time.
