The tenant is likely scouting potential sites years in advance just in case negotiations for the lease extension do not work out as planned.Sounds like the existing tenant has a ROFR (right of first refusal in the lease) and might have said they want to buy but not at the price you (the other potential purchaser) is willing to pay.Was in the pizza business for over a decade before getting into commercial real estate  15 years ago.

It would be interesting to understand those specific needs and scout Buildings with potential that could respond to those needs with minor improvements you know.

The market is definitely tough - we scout for inventory, cooperate with wholesalers and watch the MLS like a hawk daily (yes, good deals exist when listing agents are market ignorant). 

If you're familiar with the area, we scout east of Worcester and south of Boston. 

Have your agent scout out "free & clear" properties in your target market.

From what I have read through Neighborhood Scout and knowing the areas a little (new to living here) is that the vacancy rates are very low. 2% or less.

It was a total gut job, the winning bid was $68k & we had pulled out @ $10k.We also have several 'investors' who scout these properties for themselves & invariably find a way in :) Then ask us for a HML based on pics they have.

If it is income like rent, even if it is collected as of 12/31 but you don't deposit the funds, it is still income in that year for tax purposes.If the tenant demanded a refund on 1/1, the boy  scout answer is too bad, you had constructive receipt as of 12/31.

@Amber K. make your offer anyway as a secondary one then get back to scouting for another deal.  

I was scouting Zillow non stop for weeks and set alerts.