The following case study describes our process selling our recently closed property at 729 Centinela Avenue, Inglewood, CA 90302.

The Problem

A client came to us seeking help since the property where he ran his business was being sold. The client was looking to relocate his business, but as we began searching for buildings for lease, the client concluded that his business would not be able to financially support the market rate rents in the area.

Determined to stay in the same area, we began to look at creative financing solutions to put him in a place to purchase his own real estate. Prior to opening escrow, we find out the business does not qualify for an SBA loan.

The Solution

After evaluating our client’s financial position and seeking consultation from his tax advisor, we took out money that he had invested in the stock market and invested it into real estate. We ended up finding a single tenant warehouse for purchase that was within his price range. In addition, the property offers the opportunity to rent a subsection of the property down the line.

While finding the perfect property may have been tedious, it was even more difficult to get this escrow to the finish line. Upon opening escrow, we found out there were 30+ liens on the property. In addition, the roof was deteriorating due to the most recent rainstorm. Lastly, COVID-19 holdups kept the City of Los Angeles from performing their duties in a timely manner.  

In the end, we were able to close escrow for our client in a building where he can place his business; while at the same time, generate revenue from the subsection he intends to lease out to a tenant.

Find out how we can help you sell you commercial real estate property. Call KingSide today.