So why would an owner not advertise their property? Isn’t advertising the best way to find Buyers- like in the classifieds or something like Craigslist?

Many times there are reasons why the property owner wants to keep the possible transaction private and “off of the radar.” Perhaps because one reason he/she does not want to deal with all of the curious folks out there that want to know all of the juicy details, but in many cases they are not even actual Buyers or certainly considered qualified Buyers with funds actually in the bank. As the sale and acquisition of commercial real estate is much more of a business transaction, than for example residential real estate, which if often emotional for the parties involved- most CRE deals tend to be done by professionals with other professionals. By this I mean a professional Seller, Buyer, Broker, Attorney, and all of the other folks normally involved in these deals. So in essence in keeping the deal off of the various advertising platforms out there, the Seller can make sure that he (or she) only deals with other professionals, who have their funding readily available, and in this way no one wastes anyone else’s time. What it comes down to is either the deal makes sense to the Buyer, or not. If not and for example the Seller is not willing to discount the property or offer whatever other concessions the Buyer is asking for, both parties just then go their separate ways. The other main consideration for doing an “off market” transaction is the value of the property. We have seen commercial “off market” deals from anywhere from $100-200K to two billion dollars! So obviously the higher the value is involved, the more likely it is that it will be “off market.” Additionally, from time to time, some of the very large hotels or resorts for sale are owned by very famous and well known people. Believe me, the last thing these very high profile people want is for their name to be out there in full public view and connected to a very high end property.