Case Study

Destination Pet

Destination Pet 

4141 FM 1461, McKinney, TX

  • Property Type: Healthcare
  • Size: 5,760 SF
  • Date Closed: 03/18/2022

Challenges

  • There was a pending condemnation notice from the Texas Department of Transportation that was affecting the ability to get an accurate survey of the property
  • The buyer was in a 1031 exchange and was working on tight timeline
  • The existing practice was recently acquired by a larger operator and there was some turnover in staff that was making the transition more difficult than expected

Solutions

  • Quantum worked hand-in-hand with an attorney to get the city plans for the highway expansion to ensure an accurate survey was done before closing
  • Quantum educated each buyer about the incredible success the vet practice had and explained the strong void it was filling in the community; hence, the tenant would be able to pay rent per its schedule and fulfill its duties over the course of the lease term

Results

  • Quantum cleared the market and brought in multiple offers allowing the seller to qualify each buyer and ensure they selected the most reliable group to close
  • Quantum was able to sell the asset over asking price while also having multiple back-up offers if the selected buyer was unable to perform
  • We successfully met the timeline to satisfy the buyer’s 1031 exchange
  • The seller achieved higher proceeds than previously expected which allowed him to roll those funds into a larger development opportunity