DH Pace - Overhead Door
170,000 sq. ft.
Expanding and Consolidating a Four-Building Operation to a 170,000 SF Facility
Selling a Building at the Highest Possible Price to the Most Qualified Buyer
Success Story by Michael Bennett & Jim Bob Taylor for Smyrna Investments, LLC
Locations
- Atlanta
Services Provided
- Transaction Management
Cresa Team
- Michael Bennett
- Jim Bob Taylor
Client Objectives
Cresa was hired to provide local market knowledge to an out-of-town owner and sell the building for the highest possible price to the most qualified buyer.
Results
- Cresa used an aggressive approach of marketing through cold calling, visiting nearby businesses door-to-door, and utilizing online marketing platforms to make sure the building had the best exposure to the market.
- Through a competitive bidding process, Cresa and the owner selected the most qualified buyer who also deposited $100,000 of non-refundable earnest money upon signing the sales contract. This buyer ultimately dropped the contract due COVID-19 economic impacts in late February, but the owner collected the $100,000 earnest money. Cresa continued the aggressive marketing approach once the contract was dropped to find another qualified buyer. Soon after, Cresa used their unique approach to negotiating by leveraging multiple offers to achieve the asking price and $100,000 of non-refundable earnest money deposit. This buyer closed on time with no issues.
Thanks to Michael and Jim Bob for their and persistence throughout the Covid-19 pandemic to close my 25,000 SF office/warehouse at my asking price. These guys are great and come highly recommended.Tim Webster | Owner
Smyrna Investments, LLC
