KREA was initially engaged by the Gayle Family to act as Advisor/Asset Manager for two retail buildings in Venice, CA. The properties had been Master Leased for over 20 years, but the Master Lessee did not extend their lease. KREA negotiated new leases with long-standing tenants and vacated other financially challenged ones. During the marketing effort to fill vacant units, KREA advised the Gayle Family to take advantage of the "Snap Chat" effects that raised real estate valuations exponentially in the primary market by selling their buildings. At the time of sale, the properties were generating less than $90,000 of cash flow annually. KREA strategic partnership with Madison Partners successfully sold the properties for over $850 per square foot. The same team sourced 1031 exchange properties and successfully purchased a single tenant, absolute NNN property for the Gayle Family with over $285,000 of cash flow annually. This yielded the client a 3.2x multiple on annual cash flow and reduced the ownership responsibility.