CRESCO Real Estate represented the Seller in the disposition of a 91,000 square foot building on six (6) acres in Stow, Ohio. The Seller was referred to CRESCO after unsuccessfully marketing the property with another commercial realtor in the Cleveland area.

Approach

• Reviewed the building, marketing materials and web site information.
• Developed a list of deficiencies associated with the property and discussed with the Seller the best approach to solve the problems which included an inflated asking price, minimal parking, low ceilings and deferred maintenance.
• Updated the marketing materials, met with local officials at the property and aggressively promoted the property including advertising the property on the appropriate web sites to maximize exposure.

Results

• Following an aggressive marketing campaign focused on Buyers and Tenants the building was sold to a local investor.
• During the due diligence period CRESCO continued to promote the building for lease and secured a credit worthy Tenant for a seven (7) year lease to occupy the entire building.
• The transaction closed on time with all critical dates being met by the Buyer.