TUTOR TIME
Tutor Time- Gilbert, AZ
- Listed the property at a cap rate 125 basis points below any other historic market comparable for Tutor Time
- Tutor Time had a stigma of a bad investment due to increased store closings
- Procured a buyer directly within 7 days of listing
- Achieved a new all-time record cap rate for Tutor Time nationwide
- Sold at 97.7% of list price
AGM Net Lease was hired on an exclusive basis to market the subject Tutor Time property in Gilbert, AZ. Due to several closures, Tutor Time had the stigma of a bad investment and in addition, the owner was a profit-contingent seller. We understood that at the cap rate needed to produce the desired disposition outcome, our level of marketing had to be supreme. Through our research we learned that this location was a great performer, with a below market and a favorable rent to sales ratio. Seven days into marketing the asset, we procured a buyer directly from our 1031 & Done program and had the property under agreed terms at 97.7% of list price. At the cap rate of 5.8%, this transaction broke the national record for a Tutor Time sold historically and was 90 basis point below any previous deal closed. The transaction was a Win/Win situation for both clients!