M&R Partner Jon Grizel Closes $18 Million Shopping Center DealPDF
On March 17, 2016, M&R partner Jon Grizel closed the $18 million sale of a shopping center property in Huntington Beach, California for a large, commercial real estate company. The transaction had many complexities, including extensive negotiations involving a lease amendment, waiver of lease termination rights and an estoppel with a national retail tenant that was critical to the closing and pricing of the sale. The transaction also involved a restructure of the selling entity in connection with a potential 1031 exchange. Notably, fourteen months earlier, M&R handled the acquisition of the same property from a bank.