Property Overview

I represented an owner in the disposition of a multi-tenant retail shopping center located at 4809 Taylorsville Road, Taylorsville, KY, 40071. The property, located in the affluent submarket of Elk Creek, comprised four buildings: a 7,550 SF retail/office building, a 2,000 SF retail/warehouse building, a 1,877 SF garage/warehouse, and a 206 SF storage unit, all on 2.75 acres of commercially zoned land.

Marketing Strategy

When marketing the property, we received interest from several potential buyers. I created a sense of urgency, resulting in multiple offers. We ultimately selected a strong offer from a buyer experienced with similar properties.

Challenges Encountered

During the transaction, the Federal Reserve’s unexpected rate hikes led to changing commercial lending rates. The buyer’s lender began to falter, raising concerns about whether the deal would proceed. I maintained constant communication with the buyer and their lender to ensure a smooth process despite these obstacles.

Outcome

In spite of the challenges, we navigated the process successfully and closed at a competitive price. This transaction highlighted the importance of having an experienced commercial agent to handle unexpected market shifts.

Conclusion

If you’re looking to buy, sell, or lease commercial property in Louisville or the surrounding areas, let’s connect! You can reach me at 502-536-7315 or raphael@grisantigroup.com.