Property Overview

I represented the buyer in acquiring a 10,000 SF multitenant retail shopping center at 2240 Taylorsville Rd Louisville, KY 40205 in the Strathmore Devondale neighborhood. My client, a prominent local businessperson, was seeking commercial property as a long-term investment.

Strategic Insights

After discussing the pros and cons of different property types, we determined that multitenant retail centers best aligned with my client’s investment criteria. We explored several opportunities, but this property stood out due to its diverse and stable tenant mix, ample parking, solid construction, and potential for rent growth.

Negotiation Process

We engaged the listing agent in negotiations and, after some back and forth, reached an agreement and went under contract. As part of the due diligence process, I created a comprehensive lease abstract to highlight key points within each tenant’s lease, allowing us to identify long-term improvement opportunities.

Challenges Encountered

During inspections, we identified deferred maintenance issues that needed attention. We were able to negotiate a credit to address these concerns post-closing, ensuring the property remained a solid investment.

Outcome

Shortly thereafter, we closed on the property, and my client began implementing his business plan. He has now owned the asset for nearly five years and is thrilled with its performance!

Conclusion

If you’re considering selling, buying, or leasing commercial property in Kentucky or Indiana, let’s connect! You can reach me at 502-536-7315 or raphael@grisantigroup.com.