Challenges: 

This property was previously on the market for over 6 months. The owner who owned both the furniture manufacturing business and the building wanted to retire since the furniture business was on a down-slope due to out-of-state/overseas manufacturing costs being less expensive. These were the conditional challenges for the +19k sq. ft. manufacturing industrial building: 

• Secure a manufacturing buyer, needing similar requirements of: 

  • electrical power,  

  • plant equipment and layout,

  • acreage for expansion,

  • pool of skilled employees 

• Remarket the property in an unconventional manner. 

 

Solutions: 

Having market share, we toured our industrial listings which may have met the selling broker’s client’s needs. We listened to their conversation and learned of their concerns. Since the selling broker was not familiar with the market, we asked a few questions, then proceeded to introduce them to other options.  

They hadn’t considered this location for lack of information regarding the local routes, which was beneficial to their product deliveries.  

 

Results: 

• A satisfied seller, having enough funds to purchase and invest in multi-family for residual income during his retirement years. 

• The buyer purchased a manufacturing facility with attached equipment conduits and purchased a bill of sale for everything else. They also had plenty of land for expansion or storage. 

• Bonuses for both new owner and community: Buyer re-hired most if not all equipment operators and employees which were skilled laborers who lived locally and were familiar with the intricacies of the machinery.