$13 Million Family Real Estate Puzzle

In March, 2016, a family reached out to Vatterott and Simon seeking help to solve its real estate puzzle. The family had concerns about maximizing the value for its six properties, which included a Steak ‘n Shake restaurant in Rockford, IL; QuikTrip ground lease in Tempe, AZ; Arby’s restaurant in Rock Falls, IL; O’Reilly Auto Parts in St. Peters, MO; Arby’s ground lease in O’Fallon, MO; and a corporate headquarter office building in Des Peres, MO.

It was up to Vatterott and Simon to put the puzzle pieces together. “This portfolio contained many challenges that required a unique approach in maximizing the value of each asset,” said Simon.
To do so, they first provided an existing opinion of value and created various marketing strategies to enhance each property. For example, they renegotiated and extended the Steak ‘n Shake lease in Rockford, IL as well as extending and restructuring the Des Peres office lease with tenant, Scrubs and Beyond, before marketing the property.

Vince Vatterott and Jason Simon with Westwood Net Lease Advisors successfully negotiated millions of dollars in added value to the portfolio before taking the properties to market. The portfolio consisted of six commercial properties in various markets across the nation, with approximately 70,000 square feet in total.

Further, Vatterott  traveled to Tempe, AZ to gain a face-to-face negotiation opportunity with QuikTrip, which led to the convenience store company’s purchase of the Tempe ground at top market price.

As a result of Vatterott and Simon’s diligent efforts, the value of the portfolio increased by millions of dollars and in conjunction with strategic timing on the sale of each asset they were able to maximize the value of the portfolio and solve the real estate puzzle for the family.