“Placer helped us evaluate a new-build opportunity before construction was completed, something that we couldn't confidently do before we subscribed to Placer. The data helped the buyer and the lender get comfortable with the deal. My colleagues and I have been very pleased with all that Placer's delivered for us so far.”

~ Ernest DesRochers, Senior Vice President and Co-Managing Director

The Challenge

Advising a multimillion dollar client performing a 1031 exchange

A high net worth client of Northmarq, a CRE capital markets resource in debt, equity, and more, had identified and wanted to purchase one of three gas station / c-store properties as part of a 1031 exchange. The most interesting  option was a ground-up, NNN gas station and convenience store yet to open in New Jersey. The client liked the deal but wanted to know how to judge the property’s potential performance. He approached Ernest DesRochers, Senior Vice President and Co-Managing Director of Northmarq’s New York office with a simple question: was the new property a promising opportunity.

The Solution

Placer Shows top ranked anchor Nearby and strong vehicle traffic

As the gas station and convenience store was an outparcel building under construction, Northmarq used the nearby anchor tenant, a Lowe’s, as a proxy. Placer showed it was the one of the top Lowe’s in New Jersey, and in the top 10% of all locations nationally, a strong indicator of potential success.

Learn more about Ranking Index

Confident that a busy anchor could translate to gas station and convenience store traffic, Northmarq continued their analysis of another key factor: vehicle traffic.

For a gas station with significant frontage on a main road, passing vehicle traffic was a key factor to consider, so Northmarq used Placer data to analyze the vehicle traffic volume on all roads surrounding the gas station and convenience store. Doing so, Northmarq showed that close to 80k cars drove past the location each day, another strong indication of the property’s performance potential.

Learn more about Vehicle Traffic Volume

The Outcome

Seeing the Placer vehicle and foot traffic data for the Lowe’s anchor and surrounding street made evaluating this ground-up gas station / convenience store deal a simpler process, such that the client felt confident that the top ranking at the nearby Lowe’s, the location on a main road, and strong vehicle traffic of 80k cars per day would make the property a success. The client moved forward with the deal and recently had the property’s grand opening.

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