Investment SOLD for above market!
6970 E Chauncey Lane sold for $5.2 M – 5% over the Seller’s expectations
A company formed by Telia Jevan Properties, Inc in Vancouver, BC, Canada purchased 6970 E Chauncey Lane on Dec. 22nd, 2013 from Alliance Real Estate Holdings, LLC (Guy Labelle) for $5.2 million. The property traded at a 7.5% cap rate – a half a point better than other market investment sales.
Andrea Davis CRE’s brokerage assignment was to position the 22,080 square foot multi-tenant building for disposition with Commercial 33, Josh Landers. Strategizing with the owner from the beginning to lease his asset at aggressive market lease rates, Andrea Davis CRE positioned Guy Labelle’s asset for the maximum return. The Seller’s financial goal was exceeded by 5% which covered his commissions. Additionally, the transaction closed quickly, just 22 days after escrow was opened.