Jan
28
Pros and Cons to Seller Occupying Property
ByNavigating the complex world of commercial real estate is about to get even easier and smarter – look for the NEWGlobest.com coming in February!
Provencio: “They are a credit tenant that provides income to the investment while construction is going on and a tenant is being sought.”SAN DIEGO—When the seller occupying a property is a credit tenant, that is a huge plus for the buyer, but the downside is they’re used to doing whatever they want to the property, CT Realty’s director of acquisitions Steve Provencio tells GlobeSt.com. As we recently reported, his firm has purchased the 339,264-square-foot industrial building at 12367 Crosthwaite Circle in Poway for $34 million. The property is the headquarters of Cohu, Inc.—a leading supplier of semiconductor test and inspection handlers, micro-electro mechanical system test modules, test contactors and thermal sub-systems used by global semiconductor manufacturers and test subcontractors—which will continue to occupy part of the building. We spoke exclusively with Provencio about the property and the leasing arrangement…
