Argentum Group
81,060 sq. ft.
An Out-of-the-Box Building Purchase with Land to Expand
A Sale That Doubled The Client's Initial Investment
Success Story by Scott Clayton and Lucas Redd for Chandler Narten
Client
- Chandler Narten
- 24,000 sq. ft.
Locations
- Atlanta
Services Provided
- Transaction Management
Cresa Team
- Scott Clayton
- Lucas Redd
Client Objectives
- 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.Doug Chandler | Owner
Chandler Narten
