Caden LeBlanc of ELIFIN® represented both the buyer and seller in the successful sale of the ±6,250 SF industrial property located at 1048 Carlton Rd in Broussard, LA.

Challenge

This deal came out of an existing relationship. Caden had already put two of the seller's other buildings under contract, so the seller knew how he worked. The challenge on this one was timing. The tenant's lease was coming up for renewal, and the buyer wanted that renewal in place before closing. Without it, the buyer would be purchasing a building with an uncertain income stream, and the deal depended on getting the tenant to commit.

Strategy

Caden worked with the tenant to negotiate a solid renewal before the sale closed. Having both the buyer and the seller as clients meant he could keep each side informed and aligned while the renewal was worked out, so neither the lease talks nor the purchase fell behind the other. The renewal gave the buyer the certainty they were looking for and kept the transaction moving.

Result

The property closed in less than 45 days from going under contract. The buyer acquired the building with a renewed lease in place, and the seller completed another sale with Caden. It was one of five buildings Caden has sold on Carlton Rd this year, a sign of how well he knows that corridor and the owners and tenants who operate in it.