CASE STUDIES PENSACOLA, FL MSA • OVER 50,000 SF • PRICE: $2,900,000 BUYER PROFILE SELLER PROFILE PROPERTY PROFILE Opportunistic institutional fund Large, private operator Three story, climate controlled facility, built in 2008. THE STORY • Number of bids: 11 • Seller purchased the debt and went through the foreclosure process to gain control of the real estate. • Seller completed initial Cap Ex budget and stabilized the property. • Though the property was not fully mature and had some “meat left on the bone,” the investment fund was ready to realize their gain. • Due to the upside potential, the bidding process was highly competitive. • The seller required that the buyer use a standard purchase and sale agreement that they use for all of their dispositions. • In order to maint

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