Oakmore located an existing liquor store on a hard corner on a well trafficked street in South Gate, CA for one of its development clients. Considering it had an existing ABC license, was on a signalized intersection and the Owner was selling the business as well, we recognized it would make an ideal 7-Eleven. However, even though the sale of alcohol was a grandfathered right, the City was requesting a Conditional Use Permit (CUP) due to the significant improvements 7-Eleven was requiring to the site and the need for 7-Eleven to operate and remain open for 24 hours. Moreover, due to the age of the building, the site required substantial power upgrades to its electrical capabilities to accommodate 7-Eleven’s fixtures and machinery. In addition, the parking was not ADA compliant.
We were able to help our client overcome objections from the City and secure a CUP. Moreover, with the lot size constraint we got creative with the parking, and was able to facilitate an expedited work order for the electrical upgrades. All of this required a significant amount of time that went beyond the typical transaction due diligence period. However, Oakmore was able to foster a win-win approach that extracted mutual value for both parties, thereby turning the Seller into a collaborator instead of an adversary and allowing the transaction to close.
A gorgeous Single Tenant Net Leased 7-Eleven that Oakmore was able to generate interest from dozens of Buyers, ultimately driving pricing through strategic negotiations, and selling at an above market rate.
Oakmore’s executives were engaged to review due diligence materials, lease up costs, financial projections, and modeling in connection with the $18M acquisition and partial repositioning of an 800,000 square foot….
Oakmore’s consulting group was retained to review management records for a 30 unit portfolio of westside apartment buildings, and render an opinion as to the effectiveness of the then current….