Case Study: Ushering in the Next Chapter with Strategic Retail Investments in Long Island

How RPS Capital Management guided a client through a 1031 exchange into retail properties in Port Washington and Hicksville, NY, creating opportunities for family collaboration and business growth.

CHALLENGE

As part of the sale of his company, the client also sold the company’s large distribution plant. His goal was to exchange his proceeds from the real estate sale into a new property. His hope was to find a property, or properties, that would enable him and his son to work together, and possibly continue to employ a few key long-term employees.

ACTION

The RPS team was called in to educate the client on the local real estate market with a focus on projects that fit the capabilities of his team. We presented a variety of opportunities across Long Island. We settled on purchasing stabilized shopping centers in markets within a 30-minute drive of the client’s former office. Ultimately, we assisted the client with the purchase of anchored strip centers in Port Washington, and Hicksville, NY.

RESULT

The client purchased retail properties with a mix of national, regional and local tenants in markets with strong growth potential. The acquisition of these properties ensures that the client will be able to put their management team and systems in place as they develop a capital expenditure plan. The RPS team is assisting in launching the leasing effort.

TESTIMONIAL

“Dealing with the 1031 exchange can be quite stressful at times. Rob’s knowledge and expertise have been a valuable tool in accomplishing my objectives. On multiple occasions he has guided me into excellent situations. He listened and learned who I was before selecting properties that met my personal/business criteria. Rob’s guidance does not stop once the deal is done. He becomes part of your family and continues to be a resource for me today.”  – Aaron Slonim, Jasme Capital