Fountainhead Commercial founder, Lowrey Burnett, CCIM, just represented another 1031 Exchange buyer & successfully closed the transaction.
The client, a California-based family investor, acquired a Single-Tenant-Net-Leased (STNL) retail asset valued at $2.525 million.
Property had a 15-year lease in place with a national-credit QSR retailer.
Client’s goals of (1) deferring 100% of their capital gains tax liability & (2) creating a durable, long-term income stream was achieved with this purchase.
Lowrey Burnett, CCIM with Fountainhead Commercial recently represented a 1031 Exchange buyer & successfully closed the transaction.
The buyer, a Texas-based investor, purchased the property near Ft Myers, FL valued at $2.25 million.
Property had a long-term lease in place with a national-credit auto parts retailer.
Client deferred 100% of their capital gains tax liability with this purchase.
On behalf of Landlord, Fountainhead Commercial negotiated a 5-year lease renewal at 5001 E 38th Ave.
On behalf of Buyer, Fountainhead Commercial negotiated the purchase of an industrial property at 4100 Globeville, Denver, CO.
