CASE STUDY

1900-1902 Greenville Avenue

1900-1902 Greenville Avenue
Dallas, TX 75206

Occupier Services Provided

  • Opinion of Value                                  
  • Strategic Planning
  • Market Research                                  
  • Negotiations

Advisors

Tyler Thomas, Senior Advisor
214-420-3163 (o)
214-422-9195 (c)
Katherine Jessen, Advisor
972-980-0375 (o)
214-500-5134 (c)

Client Feedback

“When we decided to sell our family’s commercial real estate property in Lower Greenville, our decision to work with Citadel Partners was an easy one. After speaking with Tyler Thomas, we knew we were in good hands to have a seamless selling experience that would result in a sale that met our goals. This is exactly what we encountered working alongside Tyler and his team. We would highly recommend the group for their professionalism and follow-through. Their ability to listen to what we desired and help guide us through the entire sales process with ease made this a stress-free experience through and through. Tyler’s leadership and experience was critical to making that happen.”

DONNA SOUTHERN
Owner
Copyright ©2022 Citadel Partners, LLC. The information contained herein was obtained from sources deemed reliable and is believed to be true; it has not been verified and as such, cannot be warranted nor form any part of any future contract.

Quick Response, Increased Returns

The Challenge

1900 Greenville is a prime address surrounded by up-and-coming restaurants and shops along what is now referred to as Lowest Greenville. The building was built in 1920 and until recently was owned and operated by a family that lived in New Orleans. After 16 years of ownership, the family was approached by a prominent owner and developer in the area. While the unsolicited offer was compelling, the family needed to understand the true value of the asset located in such a niche neighborhood. They engaged Citadel Partners, and we got to work on an Opinion of Value.

Our Strategic Approach

  • Identify the various owners and investment strategies behind similar product in the neighborhood
  • Prioritize the seller’s needs and wants
  • Evaluate the building’s potential income stream and uses for the building
  • Understand the hurdles a new owner may encounter in repositioning the asset such as parking, deferred maintenance, code compliance, or environmental considerations
  • Compare the unsolicited offer to comparable sales in the area
  • Create leverage by thoughtfully marketing the opportunity to probable buyers

The Outcome

After a thorough examination of the market and the opportunity at hand, the family decided to liquidate the asset. Once the negotiations were finalized, the family was able to sell the building for 144% of the original offer on the table before Citadel was involved in the process. The deal closed and was fully funded just 45 days after a purchase contract was executed – a quick two months after the listing agreement was finalized.

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