Jun 20 in General discussion
What to do with a counter offer… an exercise for fun for all. What would you do.
I offered 1.9M they have it listed at 2.4M there’s a full acre undeveloped on the back there’s plenty of room and a huge demand for indoor RV and boat storage, the zoning is already in place.
The selling corporation is a feed company from the Midwest that didn’t realize how strong the competition is in the west
With the current rentable space that’s 121/ft . But there’s so much more opportunity and value to be added it’s next to a fed ex depot . It’s got frontage but not prime frontage but central location to 85,000 people.
Here’s the actual parts of the actual counter offer:
We are pleased to submit this Counteroffer to Purchase which sets forth the basic terms Jeremy Bingham and/or nominee (the "Buyer") will consider buying (the “Property”). Buyer proposes to purchase the Property consisting of approximately a ±16,620 square foot building on ±2.39 acres.
Purchase Price:
All cash offer of Two Million Fifty Thousand Dollars and NO/100 ($2,050,000.00) dollars (the “Purchase Price”) for the Property, all pertinent rights to the Property real and personal wherein it is situated.
Well what are your thoughts
industrial rents if we just put 1 tenant in would be around 15-18k per month NNN .
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What to do with a counter offer… an exercise for fun for all. What would you do.
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