Rent The Runway
319,000 sq. ft.
Expanding a Start-Up Company to Meet the Demand
Leveraging a tight market to capture the best price for an industrial building.
Success Story by Jim Bob Taylor and Michael Bennett for Innovative Peening Systems
Locations
- Atlanta
Services Provided
- Transaction Management
Cresa Team
- Jim Bob Taylor
- Michael Bennett
Client Objectives
- Innovative Peening Systems (IPS) needed to sell its 31,858 SF industrial building for the highest price to give the owner the opportunity to construct a build-to-suit in Buford, Georgia.
- IPS needed to leaseback the property for 6 months until the build-to-suit was complete while paying minimal monthly rent.
Results
- A combination of cold-calling, marketing online, and visiting local owner-users allowed Cresa to create a competitive environment and attract potential buyers.
- By leveraging the extremely tight owner-user market, Cresa was able to negotiate with the potential buyers to get the best sale and leaseback terms for IPS.
- Cresa engaged a seasoned real estate attorney to solve title defects involved in the sale of the property.
Michael and Jim Bob worked tirelessly to negotiate the best terms and resolve the issues that arose. Their knowledge of the Atlanta industrial market gave me the utmost confidence in them as my advisors. If a company is looking for any help regarding their industrial real estate, these are the best guys to call in the city.Dan Dickey | Owner
Innovative Peening Systems
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