The transaction marks the latest in roughly half a dozen deals between CrownPoint and the unnamed seller. By broadening the search beyond passive net lease buyers, the brokerage courted owner-users, developers, and opportunistic investors. This competitive bidding process allowed the firm to navigate the complexities of a tenant intending to leave while contractual obligations remained in place.

Shannon Bona, Managing Partner and Co-Founder of CrownPoint, noted that the property required a departure from standard stabilized asset sales. The firm is currently representing the same client in a 1031 exchange acquisition slated for late October, signaling a transition from the client’s initial portfolio building to active disposition and reinvestment management.