Commercial Retail Investment

[Maureen Wilbeck]

I don't see much about commercial retail property on the forum, but was curious if anyone knew the best approach to market it for sale. My husband and I stumbled into commercial real estate and admittedly don't know much about it. We bought land in 1985 for our office building because we were tired of paying high rent. Now the area has exploded with development around us and we have had some serious interest from potential buyers just because of drive by traffic. Nothing has panned out yet so we were hoping to speed up the process. We really don't want to get a realtor involved. The interest has been from commercial retail developer type people. We are sitting on a very prime property in west Wichita that has been described as a "billboard" property. The traffic count is extremely high. Our neighbors are Abuelo's, Panera Bread, Lowes, Twin Peaks, IHOP, Kohl's, Slumberland, Target and Best Buy, just to name a few. Any recommendations on finding a buyer? Our plan is to do a 1031 exchange. We are interested in purchasing residential real estate when we sell as part of the exchange.