Del Mar, CA
Navigating unsolicited offers.
The owner of the building received an unsolicited offer from another broker who then reached out Tashakorian for advice on pricing and countering. Believing the price was too low, Tashakorian asked for a 2-month exclusive listing agreement to market the property for the first time in 27 years. During the marketing period, Tashakorian toured the property with over a dozen interested investors before receiving an offer $3M higher than the initial offer.
The property presented many challenges, including a rent roll of over 60 tenants (including office, retail, restaurant, and executive office tenants), multiple reimbursements methods, negotiating a lease extension for the largest tenant during the escrow process and all that comes with marketing a property for the first time in almost 3 decades. Realizing the underwriting and lease review could require a longer due diligence timeframe, Tashakorian pushed to provide the buyer with select due diligence material before entering escrow to truncate the buyer’s timeline and close the sale early.
Polo Plaza is situated in San Diego’s prestigious North County, facing the polo fields, with great attraction from the popular Market Restaurant + Bar. Polo Plaza offers a distinguished address for business in San Diego’s coastal North County, a coveted locale to live and dine. A first-class office and retail environment in the finest location, Polo Plaza features fine dining, smart shops, European salons, and convenience.
total sqft: 56,168 SF
location: Del Mar, CA