Challenge
The owners of the property had occupied a significant portion of the building since it was developed in 2002. The group decided it was time to relinquish ownership in the building and become Tenants, but still occupy the building. The group approached Haag Brown wanting to get a realistic value on what the property could sell for to an investor looking for a fully occupied medical office building. Because of our experience in medical brokerage and investment sales, we were able to set the right expectations.
Action
Our team made recommendations for improvements to the building which were completed, had professional photos and drone images taken, and created outstanding marketing materials. We created a list of potential buyers and went after them. A few months after receiving multiple offers on the building, the Sellers were able to come to a deal with a local Buyer who was engaged in a 1031 Exchange, looking for a safe long-term investment.
Results
Nathan Eller and Corey Fuhrman represented the Sellers, S&S Realty Partners, who were pleased to receive an offer that aligned with their expectations, in a quick and easy transaction. Corey Fuhrman represented the Buyers in the sale, which closed a week early.
Neurology Associates: 1107 E. Matthews
“I believe the connections that Haag Brown already had was the source for this successful transaction. The integrity of the business is proven, thus giving the buyer and the seller a guaranteed fair approach to the property. This was a challenging property, especially during the current events of COVID but because we were a medical facility, it made our building stand out as a safe investment long-term. The expertise of Nathan and Corey is what stood out as well and they knew how to search out the right buyer and fortunately for them, they represented both the buyer and seller which is very difficult to do. I am very pleased how this sale was managed, and I would return to Haag Brown in the future when it comes to commercial real estate. Thank you so much”.
– S&S Realty Partners, LLC
