Smile Design
Durham, North Carolina
TRANSACTION VALUE
$986K
TRANSACTION TYPE
Lease
PARTY REPRESENTED
Landlord
SIZE
3,642 sf
Long term lease with no downtime
Avison Young secured an established, strong credit tenant who committed to a 10-year lease.
Challenge
The owner of a dental condominium sought to backfill the space with no downtime following expiration of existing tenant’s lease.
Action
Avison Young initiated the campaign months prior to the scheduled expiration of existing tenant’s lease and developed promotional materials highlighting the positive features of the property. The property information was emailed to our database of all local area dentists and brokers active in the dental community. Our team also targeted faculty at local dental school and made them aware of the opportunity.
Results
Our team was able to secure a lease with an established, strong credit dentist committed to a 10-year lease for the relocation of his practice. The new tenant's start date immediately followed expiration of existing tenant’s lease.
Testimonial
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.
205 Frasier Street
Transaction type: Sale-leaseback
15,542 sf | Facilitated sale‐leaseback of their Durham location on behalf of a physician's group to a 1031 exchange investor.
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.
