Overview

• November 2014
• 1755 Enterprise Parkway, Twinsburg
• 255,270 square foot warehouse building
• $15,0000,000 sale price | 8.00% cap rate
• Requirement
• Sell a fully leased 250,000+ square foot, multi tenant industrial building.

Challenge

The building was built in two portions. Originally in 1978 and an addition was put on in 2005. The newer portion had many updated amenities: higher ceilings, newer sprinklers, nicer facade, etc. Although the building was 100% leased, it was to local/regional tenants. Finding a buyer to accept these issues would be the challenge.

“The team did a great job uncovering an investment buyer that did not exist in the investment pool prior to the property going on the market. Their knowledge, marketing, and networking made the transaction possible.”

– Tony Dona, Founder, Thackeray Partners

Solution

The team marketed the asset with the multiple mid-long term leases in place, high quality and professional management, and hands on ownership.

Result

The seller benefitted from the team’s extensive investor database and relationships to secure a national investor.