Off-Market Closing: Macaroni Grill
 Capital Pacific recently represented both buyer and seller in the off-market sale of a 7,042 SF Macaroni Grill, located on 1.53 acres in Folsom, CA.The property features a 20-year lease with 2% annual escalations and was sold for $2.36M (7.6% Cap). Financing was secured at 6%. The buyer was a California-based 1031 exchange investor coming out of a management-intensive shopping center. This down-leg transaction was also handled by a Capital Pacific agent, and was marketed extensively for 60 days. Thanks in part to the seller’s willingness to meet the market at the time, the shopping center closed at an 8.5% Cap in December 2008 to an out-of-area buyer who assumed the existing loan. These transactions demonstrate that with enough creativity, mettle, and willingness to act upon shifting market conditions, deals can still be made in today's challenging market. |