Case Study - Property Purchase, Leasing and Construction
KAM Coastal secured a lease with Tractor Supply prior to the sale of the building, creating additional value to the buyer while operating as the broker to the bank in the sale of the building to Fibercoast LLC.
- Client
- Tractor Supply Company
- Year
- Service
- Brokerage & Leasing
Overview
Built in 1982, this property is located at 2800 Riverside Drive in Paso Robles, California. Kmart had previously occupied 100% of the building. In 2000, Kmart vacated the premises, and the property was owned and occupied by a subsequent tenant. In 2008 ownership of the building reverted back to the lien holder, Rabobank.
KAM Coastal secured a lease with Tractor Supply prior to the sale of the building, creating additional value to the buyer while operating as the broker to the bank in the sale of the building to Fibercoast LLC.
Because of our expertise and trusted reputation in the area, the new building owner hired KAM Coastal as the listing broker who assisted in securing Grocery Outlet as a co-anchor.
What we did
- Selling Broker
- Leasing Broker
- Contractor for Tenant Improvements
- Building size
- 68,080 sq ft
- Leased to Tractor Supply
- 23,430 sq ft
- Tractor Supply lease term
- 15 years
- Tractor Supply & Grocery Outlet
- 2 anchors
The Results
KAM Coastal successfully marketed the property and secured Tractor Supply Company as a tenant, locking in a 15-year lease for 23,430 square feet commencing May 2012, and subsequently supported ownership in landing Grocery Outlet as a co-anchor.