CRE Relationships Go Beyond Deals—Create Value, Build Trust. Watch Hannah Hammond & Josh Amoroso.

So Trader Joe's is a client of ours. We know them very well. There was two years remaining on the lease they had on the anchor space at the shopping center and the seller wanted a 5 cap. Nobody was interested in that deal. We looked at it very differently. This is the highest grossing grocery store in the state of Oregon per square foot. They're not going anywhere. There was a vacant building that came with the shopping center next door. Trader Joe's didn't have use restriction on that building. Because we're friendly with Trader Joe's, we would never put a grocer, even though we there were several that wanted us to put a grocery store next door to them. There's no way we do that. A they're friends of ours, they're clients of ours and we just, you know, we want to do good by Trader Joe's, but at the same time we're like, well, there's something you can do for us. We will restrict that building for future grocery store use. But you got to increase your rent and you have to extend your at least to 10 years. Like, no problem. Happy to do it. We closed de risk the deal completely and spun off the the 20,000 square foot box next door. It was a really fun deal.