Chicago, IL (June 23, 2023) – Quantum Real Estate Advisors, Inc. has brokered the sale of a brand-new Chase Bank in Collierville, TN. The asset sold for $2,777,700, or 97% of the asking price, at a very aggressive cap rate, even with today’s uncertain market conditions. At the time of the sale, the property was still under construction, and the tenant’s 20-year ground lease had yet to commence. The seller, a Southeast-based developer, was represented by Zack Hilgendorf, Executive Vice President of Quantum Real Estate Advisors, Inc., and Nick Hilgendorf, Associate of Quantum Real Estate Advisors, Inc.
Zack Hilgendorf had the following comments regarding the transaction, “Buyers continue to seek well-situated assets in tax-free states, even if it means sacrificing yield.” Nick Hilgendorf added, “This transaction is a prime example of the continued demand for low-ground rent deals. Even in today’s market, where alternative investment types may offer investors higher short-term yield, buyers continue to pay aggressive prices for low ground rent deals, due to the longevity, security, and consistency, of the investment.
Quantum Real Estate Advisors, Inc. (www.QREAdvisors.com) specializes in investment sales brokerage, assisting clients in the acquisition and disposition of commercial real estate. Quantum has the capacity through strategic alliances to offer full-service leasing brokerage, receivership, management, and financing.