June 29, 2022

Sometimes Good Luck Hides in the Bad

It seemed like such bad luck. A client called to say that the tenant I placed in his retail building located at 1739 Telegraph Road in Bloomfield Hills three years earlier was breaking his lease and moving out. The pandemic had gutted his retail business. My client asked if I could find him a reliable new tenant.

With strategic marketing, we found the perfect occupant: a local, successful automotive-accessory retailer. But he wasn’t quite the match the owner was looking for. The retailer we’d found didn’t want to lease the building. He wanted to buy it. More bad luck we thought.

I thought there might be some good luck hidden inside the bad. I sat down with the retailer and listened to his purchasing needs. Next, I met with the owner, listened to his monthly cash-flow needs, and then we put together several lease-versus-sell cash-flow models. In the end we negotiated a land-contract purchase agreement where the buyer got the building he wanted, and gave the owner the monthly cash-flow he expected without the responsibilities of ownership. The sale closed quickly with happy parties on both sides of the table.

Turning bad luck into good luck isn’t magic. It’s the result of listening and understanding both parties in a transaction. It’s what we do best.

Whether you’re looking for a tenant or a purchaser for your property, or the perfect site to buy, we’d like to help. We’ll listen It’s our form of magic.

Contact me at 248 476-3700 or svalli@thomasduke.com.

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