Case Study: Platinum Energy achieves a record single-tenant NNN sale with Lee & Associates

Platinum Energy generates $3.5M more value with Lee & Associates

Platinum Energy, a privately-owned operator of gas stations and car washes, faced a challenge with a former gas station property it owned at the entrance to a major shopping center. The property had environmental complications from its prior use, and the owner of the adjacent center had offered only $5 million for the land. Lee & Associates was engaged to advise on how to maximize the disposition value of the asset.

Lee & Associates devised a strategy to develop the site with a build-to-suit building for a new tenant. They fully negotiated a corporate lease with Verizon Wireless, overcoming environmental and construction hurdles. Lee & Associates then marketed and sold the property with the new tenant in place for $10,050,000, which set a national record for price per square foot. This resulted in over $8.5 million in net proceeds for Platinum Energy, generating an additional $3.5 million (70% more value) compared to the original land offer.

Platinum Energy