Dan Hall, a successful entrepreneur, and real estate investor owned and operated the Church Brothers Collision Repair (CBCR) corporate office out of a Shadeland Avenue building he purchased and leased with the assistance of Scott Lindenberg. After owning the building for three and half years Dan sold CBCR (his 2nd floor anchor tenant) to Abra Auto Body Glass, who planned on vacating the building. Dan had to evaluate whether to relet the 2nd floor space and hold the building as a third-party investor or sell the building to a prospective owner-occupant buyer. What was the best financial strategy? Sell now or re-invest, lease up and sell later? Would the net sales profit justify selling a building after owning for three and half years?
Dan engaged Scott to evaluate the market value of the building, recommend the best ownership strategy moving forward and ultimately sell the building. Scott and the Reliant Partners’ marketing team installed banner signage fronting 465 and monument signage fronting Shadeland Avenue and designed high quality marketing materials. Through aggressive end user marketing, a direct mailing, online marketing, and broker broadcasts Scott was able to create competitive interest in the building. This resulted in four purchase offers and a sales price above the list price or effectively a 20% premium.