Closed Transactions

As part of our long-standing representation of Brake Check, we are always looking to improve their portfolio of real estate across Texas. Rarely, but on occasion, it may make sense for a property to be sold. This might be to reposition a store to better serve the clientele or the real estate may have reached the end of the useful life of the improvements. In this case, the Pasadena store presented an opportunity to complete a sale leaseback. Brake Check had several construction projects in their pipeline and selling the Pasadena store allowed the client to reinvest the proceeds from the sale into the development of new stores. Simultaneous to closing on the sale they signed a leaseback which allowed Brake Check to control the asset as a long-term tenant. This helped Brake Check grow their overall portfolio while maintaining control of the Pasadena store as a long-term tenant. We structured the terms of the proposed sale leaseback and then presented the offering to our network of investors and brokers. Patrick Graham successfully procured multiple offers and secured agreeable terms for the sale leaseback to a national REIT. This effort allowed Brake Check to strategically grow their brand and open more stores.