Finding Real Solutions To Real Estate Requirements
A role I have found that I thoroughly enjoy is assisting business owners with finding solutions to their real estate requirements. I often find that my work with entrepreneurial ownership involves not only addressing space needs but also involves advice with financial goals as well. I identify my role as a real estate professional advisor, confidante and consultant to my clients. One example of this is my work with Akers Industries.
Akers Industries is an importer and wholesale distributor of various categories of disposable gloves. The objective of this business owner was to purchase a property larger than the company required in order to allow for future expansion as well as provide income. The property also needed to be located in a tight geographic area in relatively close proximity to the principal’s primary residence. This objective was a tall order in light of the current conditions for industrial properties that are available for sale. I quickly realized that finding a solution would require a creative approach.
However, through perseverance, patience, diligence and a full understanding my client’s long-term objectives, I remained confident that a successful solution would be found. My diligence included thorough canvassing of suitable properties located within my client’s target geographic area, screening and analyzing suitable solutions and numerous inquiries to property owners and brokers. The process involved investigating properties that were not necessarily on the market for sale. We toured several alternative properties and identified a target property located in Shawmut Park in Canton, MA. This property consists of approximately 55,000 sf, had 2 strong credit tenants and 25,000 sf vacant. While this property was technically not on the market for sale it would prove to be an ideal solution. We engaged in dialogue with the property owner and broker and worked toward a mutually acceptable deal to acquire the property with the 2 leases in place. In the end and on Akers behalf, I negotiated an optimal deal which included seller financing. My client closed on the purchase and occupied the vacant space with minor improvements.
Subsequent to the acquisition, I assisted this client with the lease renewal of one of the existing tenants. My client has also installed solar panels on the roof which provide additional income through net metering. As I continue to monitor my client’s status he recently informed me of his eventual plan to utilize the property to supplement his retirement. My client is very pleased with how this acquisition turned out. I couldn’t be more content as well. Helping a business with solving their real estate needs and at the same time achieve my client’s long term financial goals is highly rewarding. I continue to look forward to providing professional advice and assistance to all of my clients.
Please contact me to review your specific real estate requirements.