Case Study: Shoppes at Paradise Beach

Challenges

Brandon Senia and Robert Goldberg successfully completed the sale of the Shoppes at Paradise Beach. One of the biggest challenges they encountered during this sale was securing property insurance, which was crucial for the buyers to obtain financing. The agents worked closely with the seller, who was responsible for arranging the insurance on behalf of the buyers. Given the shopping center’s location on A1A, so close to the beach, there was significant risk involved due to potential hurricane exposure. Both the insurance company and the new owner would have to consider this risk. Nonetheless, they were able to successfully resolve this issue before closing on the asset, as that was the only buyer they went under contract with.

Strategy

Brandon and Robert were able to successfully generate over 10 offers on this property. In order to complete this sale, the agents implemented three key marketing strategies. First, they leveraged the Matthews database to target out-of-state investors. By doing so, the asset’s exposure significantly increased. The next strategy was ensuring the property was listed on every major third-party marketing platform. This allowed for them to reach all potential investors interested in shopping centers. The third strategy utilized was making a substantial number of direct calls to investors. These calls would ensure they found the right buyer, who was both willing and able to close on the asset.

Result

As a result, they were able to sell this property for significantly more than the seller had anticipated and far above the offers he was receiving off-market. Marketing was able to create an exceptional offering memorandum, custom-designed specifically for this deal.

Client Testimonial

I am writing to express my gratitude for your exceptional efforts and professionalism throughout the recent sale of the shopping center at 2324 N Hwy A1A, in Indialantic, Florida. Specifically, we had no interest in selling this property after 20 years of successful management, but you revealed the underlying value, and we agreed to let you and Matthews Real Estate list the property.

From our first conversation, it was evident that you were dedicated to winning my business. Your diligence and persistence stood out as you consistently followed up and provided me with valuable information on the state of the real estate market. When you created the valuation of my shopping center, I was impressed with the comprehensive package and your knowledge of every relevant sale in the market.

Once we decided to list the property, you were both very proactive and made sure to communicate with me every step of the way. The marketing package you created was second to none, featuring clear drone photos of my property. Within two months, you presented me with 10 offers, which we narrowed down to find the ideal buyer that we ultimately closed with.

I am extremely happy with the outcome of the entire process, and I want to thank both of you for making this transaction run flawlessly.

Sincerely,

Paradise Beach Properties, LLC