2460-2494 W. Third Street

Santa Rosa, CA
2460-2494 W. Third Street
2460-2494 W. Third Street

Facility Highlights

  • Approximately 25,538 SF mixed use strip center consisting of 20,456 SF of retail and 5,082 SF of 2nd floor office space.
  • This property was purchased in 2017 for $2.8MM on modified gross leases with the majority of lease agreements expired.
  • Located on the hard corner of Fulton Rd and W. Third St with close proximity to Hwy 12 and Hwy 101.

Transaction Summary

  • SVN | True Real Estate Partner’s was employed to negotiate lease renewals for 95% of the shopping center, strategically implementing Triple Net lease agreements that increased base rents to market and worked towards full reimbursement over the following five year period.
  • Increased property value by more than 250% through aggressive lease negotiations.
  • Secured financing quotes for a value of more than $7.5mm

Key Benefits

  • SVN | True Real Estate Partners added value to the retail asset by securing long-term, favorable lease agreements that directly increased the rental income and operating expense reimbursements, and therefore, delivered the highest property value.
  • SVN | True Real Estate Partners retained many existing tenants through creative deal structuring.
  • SVN | True Real Estate Partners sourced high-quality, creditworthy tenants to further bolster the rent roll.