CRESCO represented the Seller in the disposition of a 202,000 square foot light industrial facility on twenty-five (25) acres in Orrville, Ohio. Prior to being hired, the Seller required substantiation of macro and micro market conditions as it related to the specific property and the impact on the property’s value.

Approach

• Conducted an evaluation of local and regional market conditions specific to the subject property. Developed a specific target marketing campaign designed specifically for the facility and presented the results to the Seller and their consultants.
• Met with local and state officials to discuss the subject property and assess the availability of any local or state incentives for qualified candidates while building the awareness of the property’s availability.
• Proposed a specific marketing campaign designed to take advantage of the property attributes and the incentive packages available.
• Located the developer of the property and obtained all construction drawings, surveys, soil studies and environmental reports regarding the property.

Results

• In cooperation with the local municipal economic development officials, CRESCO identified a Buyer in need of a manufacturing facility. For further consideration, the Buyer required numerous structural modifications and expansion capability. CRESCO provided drawings and specific documentation to the Buyer in a timely manner to illustrate the facilities structural and expansion capability.
• Negotiated an acceptable purchase price while the local economic development director developed a well-suited incentive package for the payroll and employee count.