Waldman of Waldman & Associates completes multiple deals
266 South Washington Street – Attleboro, MA (before)
266 South Washington Street – Attleboro, MA (after)
Providence, RI Dan Waldman of Waldman & Associates doesn’t view himself strictly as a commercial real estate broker. “I’m actually a problem solver,” he said. “I find solutions so both sales and lease deals become win-wins for all the parties involved.”
In recent months, Waldman’s love of people, his local market knowledge, research and negotiating acumen, and creative solutions have resulted in four outside-the-box deals for his firm that include:
• Olde Marlborough Village, 329-331 Boston Post Rd East, Marlboro, Mass. – The Gilberts, owners of a small retail plaza and self-storage facility, told Waldman they wanted to retire but were hesitant about losing steady income. He explained a 1031 exchange. They liked the idea and Waldman alerted a local entrepreneur about the 2.4 acre lot, ideal for a locally-based storage facility. Through the 1031, the couple replicated their income with the purchase of a Dollar General store in West Yarmouth, a passive investment with an ongoing income stream. Waldman helped the Gilberts beat out a buyer from LA using a hometown discount. The new owner of the Gilberts’ property is completing construction of new Bunker Self-Storage, a 500-unit facility. Seller is Gilbert Realty Management, LLC. Buyer is Blue Hawk Investments, LLC. Waldman, the only broker involved, negotiated a sale price of $2.55 million – 110% of the advertised price.
• 266 South Washington St., Attleboro, Mass. – The owner of a property on a busy road didn’t want to sell the site but wanted a solid, long-term tenant to replace a closed Zoots franchise. He lives in Florida and trusted Waldman to market the property, screen prospects, recommend deals. Sturdy Hospital wanted the site for their first Urgent Care walk-in clinic. Waldman helped consummate a 10-year lease. The hospital invested $1 million in renovations and the facility opened August 1. Peter Hayes of Hayes & Sherry represented Sturdy.
• 132 Elton St., Providence, R.I. – The buyer wanted a multi-unit investment near Rhode Island School of Design where his daughter is a student, but he only had 15 days to identify a property as he was in a 1031 exchange. Waldman took the client to two properties including a 6-unit building. The investor loved it. “I know there’s never a vacancy on the East Side near Brown because my older daughter graduated from Brown,” Waldman said, “It was a totally off-market and everyone was happy with the $1.85 million sale price.” He represented both parties.
• 361 Dexter St., Central Falls, R.I. – Waldman found an ideal lessee for this retail unit,, and in record time. California Nails & Spa signed a 10-year lease. He represented the landlord and tenant.
“Central Falls is a tough market but adding the salon helped round out the new plaza that includes a Dollar Tree and T-Mobile store,” said Waldman
Waldman’s partially attributes his successes in real estate over the past 9 years to his experience on the other side of the fence – having launched retail ventures ( he owned a furniture store), and stints in the health care world. Characteristically, he modestly plays down his undergraduate degree from George Washington University and his MBA from the University of Pittsburgh: “I suppose I use some of what I learned there in my work,” he said. “But, in truth, I actually learn a lot more from my clients who have a wealth of knowledge. Some are 2nd or 3rd generation in the real estate world.”
During 2016, Waldman, licensed in Mass. and Rhode Island, completed over $105 million in sales and 17 leases, earning him CoStar’s Power Broker of the Year award in an unprecedented three categories. Industry watchers are impressed with his results, considering that team Waldman is usually just Dan Waldman.
Last Spring, firing up his research and negotiating skills, Waldman brought the landmark 400,000 s/f Walpole Mall to 100% occupancy for the first time in 30 years – a feat that evaded prior brokers. In the last three years, he has been the exclusive broker for a million square feet of retail space in Mass. and Rhode Island. All the plazas he represented have occupancy in the 98% range.