Who
Business Owner, Buyer
What
Retail
Where
Top Hat, White Center/West Seattle
Why
Needed Additional Parking for Existing Business Next Door
We all know what comes after the words, “well, if at first you don’t succeed…” For a beloved local veterinarian, the second time was the charm. When the restaurant next to his business went on the market, we made a handsome offer to buy the building. My client primarily wanted the land to provide extra parking for his employees and customers. Unfortunately, our offer was rejected. We couldn’t go higher, because our first offer was at true market value.
While I was looking for other opportunities, I kept tabs on the restaurant, primarily to see what bid would eventually close the sale. No other offers came in because the listing was overpriced. The bank foreclosed and we were first in line on the courthouse steps to make a new offer. While my clients observed, I bid the minimum on the property and with no other bidders, we secured the property for $150,000 less than his original offer. This provided the extra parking my client needed at a significant savings. He is now redeveloping the property into an expansive apartment complex which will provide future, perpetual income for him and his family. Leasing will be available soon and you guessed it, pets are allowed because the owner is the veterinarian next door!
