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With over $750,000,000 in deal volume across 28 different states, Bellagio Real Estate Partners is a nationally recognized commercial real estate brokerage firm who is heavily active in the real estate investment market.
TESTIMONIALS:
We have worked with Brad (and his team) on multiple real estate transactions over the past 10 years. Brad not only has a very discriminating eye for quality property but also pays attention to details that escape most brokers. His work ethic, professionalism and organizational skills show up in every deal. I never hesitate to work with Brad or refer him to another investor…I know he will always perform at the highest level.
- Gary
Investor
Brad and his team have been excellent to work with and went above and beyond to get our deals done. Their creativity, level of professionalism and attention to detail really make their work stand out in the marketplace. Brad has always been responsive and understanding of deal complexities and has helped us work through successfully on many projects. We enjoy working with Bellagio and know that we have a good steward in the purchase or sale process to help make the process smoother.
- Mitch
Developer
I have been investing in commercial real estate for over a decade and have worked with a number of brokers in larger firms. What I think is unique about Evan and Brad of Bellagio Real Estate Partners is that they take the time and effort to provide a very individualized and personal approach to their clients with exquisite attention to detail at every step of the way. I executed my first 1031 exchange with them and they not only sold my property at much lower cap rate than expected, but helped me to find an excellent exchange which improved my cash flow. I highly recommend Bellagio without reservation and will continue to pursue future deals with Evan and Brad.
- Mark
Investor
We pride ourselves in making investments into long-term real estate. It is a pleasure to work with Bellagio Real Estate Partners, and its team, specifically, Brad Teitelbaum, who over the years has added significant value to our ability to source good real estate. Brad and his team are unique in that they are aggressive, but yet respectful; opinionated, only if well informed; and extremely helpful if and when needed in a transaction. Most of all, which is a huge comfort to us as buyers, we trust and know that Brad and his team will always share information about a property, both good and bad. As principals this combination in an investment brokerage firm is very hard to find and is much appreciated and has certainly helped us grow as Bellagio creates another avenue for us to find “deals” that on a lookback basis, have been very successful and profitable for us.
- David
Investor
The primary focus of the firm is to provide an unmatched persistent and proactive approach for our clients creating a smooth and successful experience in the acquisition and disposition of net lease and shopping center assets around the country.
TENANTS TRANSACTED ON:
DEAL PROFILE:
Transaction Size:
$1M - $20M
Client types:
- Individual investors
- family offices
- REIT's
- 1031 exchange investors
Significant Deal
experience in sectors
such as:
- Quick Service
Restaurants - Pharmacies
- Dollar Stores
- Casual Dining
- Auto Parts
- Gas Stations
- Grocery
Stores - Cellular
- Medical/
Medtail - Convenience Stores
CASE STUDIES:
01
- Similar to most CVS and Walgreen’sassets, the lease did not feature built in rent increases during the initialterm or option periods. In a high inflation environment, the Seller wanted toreposition their capital into an asset with rental increases built into thelease. The asset ultimately sold at a 4.31% cap rate, representing a staterecord and creating a significant capital gain for the Seller, tax liabilitywas ultimately mitigated via a1031 exchange.
- Generated multipleoffers within the first week of marketing, ultimately closing at the strongestcap rate ever recorded for a STNL CVS in Tennessee (Source: CoStar)
02
National Tire andBattery
All Cash Buyer – Full List Price Achieved
- Sold based on upcoming NOI increase, adding an additional $437,000 (approx.) in disposition value for the Seller
- Received numerous offers from investors coast to coast within the first week of marketing, ultimately closing at full price
- Successfully navigated through Buyer Phase 1 and Phase 2 environmental studies, keeping the transaction on track and the Buyer engaged throughout the process
- Sale price included additional NOI from a Vargas Energy Oil & Gas mineral rights, which was added to the sale price NOI (approx. additional $33,300 in value)
03
- Sourced through an existing relationship on behalf of a California based private investor
- Bellagio followed up with the asset’s ownership for several years, until the owner was willing and able to sell
- In addition to the asset’s tremendous location, Bellagio recognized the desirable attributes of the asset’s lease terms, with below market rent of $120,000 and rare rental increases fixed into the initial term and options
- Achieved approximately 40 basis point discount compared to deals on the market at the time
04
Corporate Circle K
Competitive bidding process – High Performing Store
- Just off U.S. Route 27, the site features superior real estate fundamentals compared to surrounding competitors
- Seller broker was unaware of sales reporting, however Bellagio recognized that the lease stipulated that unit level financials must be disclosed upon request. After receiving sales reporting, Bellagio confirmed that the store performed well above average, offering our client peace of mind that the location was highly profitable
- During the due diligence process, Bellagio learned that Circle K would be consolidating their stores in the area, with the subject property being the desired location for Circle K’s continued operations
- Negotiated on behalf of our client and secured the transaction at a 125 basis point discount on the cap rate compared to the marketed pricing, representing an attractive going-in cap rate of 8.50%
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