Seller Representation

CRESCO Real Estate was hired as the exclusive agent to dispose of a 154,400 square foot building no longer occupied due to a newly built replacement facility of over 300,000 square feet. CRESCO worked as a team to facilitate the presentation.

Approach

• Formulated a marketing plan to dispose of a large special purpose facility.
• Determined the asset value and devised a plan to relieve the Owner of a Revenue Bond Lease with The State of Ohio.
• Exposed property through print and electronic media. Main focus was to beverage distributors with similar needs.
• Multiple showings, mostly to Buyers’ brokers representing large users.

Results

• The building disposition was to Gateway Recycling and Waste Reduction. They had outgrown their building which was located three properties away.
• Once the deal was agreed to, due diligence and financing followed.
• State of Ohio Revenue Bonds had to be paid off. The Seller completed this requirement in a timely manner.