SOLD: STNL Jiffy Lube in Austin, TX
Austin, TX (4/2013) – This asset went under contract early in the construction process and closed upon rent commencement. This situation could be a great opportunity for developers to control equity exposure and make higher profits with a planned exit strategy.
Our client is looking for more properties to purchase. The ideal prospect would be a single tenant net lease project with a signed lease prior to construction. We have found the lending institutions can give more favorable construction loan terms to developers with a contract ready to close upon completion of the construction and rent commencement of the lease.