Challenge:
A major challenge we faced while trying to sell this property was that there was a long-term tenant (Barry’s My Carpet) in place at the building. The task was to deliver the property vacant which meant we had to transition this long-term tenant out.
Additionally, with the current financial climate, there were some financial challenges.
Lastly, we experienced a much longer due diligence period than originally expected.
Action:
Exposure of our properties is crucial to bringing interested buyers to our real estate listings. We quickly began increasing our marketing efforts and brought this property to the market. The visibility of the property on the market resulted in over 40,540 total views and over 190 potential buyers interacting with the listing.
Our sales associate, Dawn Gingold, answered all of the buyers’ questions and frequently spoke with the seller regarding any updates. Throughout the entire process, Dawn remained observant of all of the seller’s needs and our frequent communication encouraged the seller that we were working on achieving the best sale terms for them.
Through our marketing efforts, we were able to attract the ideal buyer for the property.
Result:
The buyer presented an offer that was accepted by the seller. The industrial building sold at $215.75 price per square foot. The seller was especially grateful to Dawn for all of her efforts during this selling experience.
- Sold Price: $2,740,000
- Price PSF: $215.75
View more of our sold properties here.
Thinking About Selling Your Commercial Property?
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