Northmarq Helps Client Confidently Purchase $10M Convenience / Gas Station Combo
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.
$10M
in a 1031 exchange deal
80k
daily vehicle traffic
#1
Lowe's in New Jersey as anchor tenant
The Challenge
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, data was lacking. How could Northmarq help their client confidently analyze each deal?
The Outcome
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 80k cars 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. The data helped the buyer and the lender get comfortable with the deal. My colleagues and I have been very pleased with all that Placer's delivered for us so far.
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