The transaction marks the latest in roughly half a dozen deals between CrownPoint and the unnamed seller. By broadening the search beyond passive net lease buyers, the brokerage courted owner-users, developers, and opportunistic investors. This competitive bidding process allowed the firm to navigate the complexities of a tenant intending to leave while contractual obligations remained in place.
In section Releases
CrownPoint Partners Sells Grovetown Hardee's Amid Vacancy Uncertainty
When a Hardee’s tenant signaled plans to vacate a Grovetown, Georgia location with 12 years remaining on its lease, CrownPoint Partners pivoted its sales strategy. The firm moved away from traditional net lease marketing, successfully closing an all-cash deal with a private investor at 92% of the original asking price.
Shannon Bona, Managing Partner and Co-Founder of CrownPoint, noted that the property required a departure from standard stabilized asset sales. The firm is currently representing the same client in a 1031 exchange acquisition slated for late October, signaling a transition from the client’s initial portfolio building to active disposition and reinvestment management.
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