Boot Barn

Challenge

Our team was engaged to identify and acquire a single-tenant retail property on behalf of a repeat client completing a 1031 exchange. The client needed a suitable replacement property that met the specific requirements of a tax-deferred exchange, narrowing the field of viable options and adding time pressure to the acquisition process.

Action

We focused the search on single-tenant net-leased retail assets that aligned with the client's exchange criteria. Our familiarity with the client's investment objectives, built through a prior working relationship, allowed us to move efficiently and target properties with the right profile. We identified a Boot Barn-occupied retail building at 915 W Main St in Bozeman, Montana, and guided the client through due diligence and closing.

Result

• Acquired a 9,955 SF single-tenant retail property occupied by Boot Barn in Bozeman, MT
• Purchase price of $2,440,000, or $245 per SF
• Successfully completed the client's 1031 exchange requirements
• Transaction executed on behalf of a repeat client, reflecting an ongoing advisory relationship