SDI Realty is a nationally recognized power center developer based in Houston, Texas.
SDI Realty retained the Colliers Houston Retail Services Group to provide marketing and disposition services for Kings Crossing, a 277,000 square foot Lowe's anchored power center in Shreveport, Louisiana. SDI Realty wanted to conduct a national search for an investment group to purchase the recently completed property consisting of the following components: five (5) ground leases with various levels of credit rating, three (3) small multi-tenant buildings, and one (1) multi-tenant anchored building with tenants including Circuit City, Petsmart, World Market, Linens N Things and Pier One.
The primary challenge was to identify potential buyers interested in purchasing an investment-grade property in Shreveport, Louisiana.
The Colliers Houston Retail Services Group prepared a professionally designed offering memorandum for national distribution where they generated multiple offers from many investor groups. The team then reviewed, qualified and presented a short list of purchasers to SDI Realty. From there, the Colliers team negotiated simultaneous offers to maximize the price and best overall structure for the client and coordinated closing responsibilities and delivery of documents between lawyers, title companies and Buyer's representatives.
The property sale exceeded the Seller's expectations for the sales price. The Buyer purchased the property in an all cash transaction, thus expediting the closing time frame. The Buyer retained the Seller for management and leasing services providing additional fee income to the Seller that was not initially anticipated.