Chandler Narten Leasing is a partnership formerly in the building supply business. 9+ year ago, the two owners decided to retire and retain their real estate for income.
The owners recently made the decision to put the building on the market for sale at the height of a “sellers’ market,” hoping to capitalize on North Fulton/South Forsyth comparable sales. With Cresa marketing the property, Chandler Narten had great activity on sale and leasing prospects.
Results
After vetting the best options, Cresa was able to advise Chandler Narten on a sale price of 80-90 dollars per foot. The owners discounted the price $55,000 for mechanical and cosmetic concerns. The sale doubled Chandler Narten’s initial investment.
The purchaser had a vision of exposure on McFarland Pkwy and room for warehouse, lab, and some retail. The search was limited due to that market’s popularity and the size of the facility.
After move-in, major renovations will commence to suit the buyer.
Scott has a 15-year relationship with the client at this location which included a multitude of opportunities to sell and lease the building, and this profitable sale was the culmination of a very successful relationship.