Northmarq Helps Client Close $10M Purchase
SVP and Co-Managing Director, Ernest DesRochers helps high net worth client confidently move forward with new gas station / c-store build in $10M 1031 exchange, using Placer insights to predict performance through analysis of a nearby proxy property.
in a 1031 exchange deal
daily vehicle traffic
Lowe's in New Jersey as anchor tenant
Northmarq advised a client considering one of three properties in a 1031 exchange. Of the three, a NJ convenience / gas station property stood out - but as a new build, performance data for the asset was lacking. How could Northmarq help their client confidently analyze each deal?
With Placer, Northmarq analyzed the new build by using an anchor Lowe’s next door as a proxy and studying vehicle traffic on surrounding roads. Seeing the high ranking for the Lowe’s and over 133k cars passing the property daily, the customer confidently selected the property.
"Placer helped us evaluate a new-build opportunity before construction was completed, something that we couldn't confidently do before we subscribed to Placer."