Introduction:

• The 2,500-sf building has been held in the family for over 50 years. The owner hired JS to increase cash flow to supplement the cost of health care for his elderly parents.

  Challenge: 

• At that time, a long-standing tenant was occupying both units at a rate below the market value and was requesting a rent reduction.

  Result:

• Jonathan was able to work with the existing tenant to downsize into a single storefront which would allow them to pay a higher rent psf. plus NNN expenses. Jonathan subsequently marketed the balance of the building and secured a quality tenant at a market rate on a NNN lease. The owner’s income more than doubled which included collecting full pass-through expenses