An Out-of-the-Box Building Purchase with Land to Expand
- Argentum Group
- 81,060 sq. ft.
- Transaction Management
client objectives and resultsSee more success stories
Argentum Group is a family owned specialty wine and liquor company currently located in Peachtree Corners. They were looking for a location closer to family members/management and to increase their distribution operations and storage facilities.
The current location’s lease expired in June 2020, so Cresa initially discussed a sublease of their current space while purchasing a larger facility. Cresa hit the ground with the information and found no options. Cresa then explored out-of-the-box options where they found 225 HD Robinson. The quality of the building, time on the market, and great inspection report put the property on Cresa’s radar.
The building at 225 HD Robinson met all of Argentum’s requirements, giving the option of a larger facility, land to expand, and a tenant that needed to remain until February 2021. The favorable finance terms, proximity to family residences (45-60 minutes now will be 15), and long term planning for growth and/or lease income made the deal.
- Cresa saved Argentum $400,000 off the asking price.
- The current tenant will also contribute $270,000 to the buyers debt with rent for the next 9 months.
I am very happy with the acquisition and the property is a dream. The timing of the move works well for us and I thank Cresa for navigating the deal. I can’t wait to move into the new building and have the income in the interim.Alex Kogan | President