To sell or not to sell...

[James Faulk]

Hello - I have on the market to sell a 2 acre corner vacant land the Seattle/Tacoma area. I'm a little hesitant to sell because we've gotten offers from the corporate department of large global gas/convenience store operators (all investment grade corporates) with plans of developing a gas station/convenience store + QSR and/or other retail. It's gotten to the point where there's a bidding war among these companies and our asking price is at a premium to other sites in the area. I would be less hesitant to sell if the Buyers were just mom and pop operators/franchisees.

My thinking now is that my site is almost certainly prime location however I had previously thought that my site was not all that great (traffic counts on that corner just north of 20k). Am I wrong? If all these large corporate are wanting to buy my site, shouldn't I just develop it myself?  Any thoughts and opinions here?