Nothing about the property looked unsellable: A 24,000 square-foot light industrial building on 3.39 acres on Michigan Avenue in Canton Township. With the high demand for light industrial products, a sale at the $895,000 asking price seemed right around the corner.
So why had other agents not been able to move this? We soon found out.
Township building authorities made it known they would not be forthcoming with a Certificate of Occupancy unless a purchaser made several improvements to the aging structure, including a building-wide sprinkler system. Suddenly the cost to a purchaser had skyrocketed, and the sale looked like a long shot.
But because we have a long and good relationship with the economic development team of Canton, we didn’t walk away from this opportunity. We kept the conversation going. We learned that Canton’s economic developer really wanted to see the building demolished, and a new development built. As an incentive, they were willing to add to the sale the adjacent property of 4.21 acres—which the township had purchased as a foreclosure.
Suddenly the deal was do-able again—this time as a property sale of 7.60 acres with more than double the frontage on Michigan Avenue at a more affordable price tag.
Simultaneously, we had been searching for just such a high-exposure property for another client, Zippy Auto Wash.
With the help of township officials, our client navigated through several months of rezoning and planning meetings. The deal closed happily, and soon the new owners will begin demolition of the old and construction of the new—their 5th Zippy Auto Wash.
This unsellable property was not only sellable. It’s about to become an asset to the township’s tax base and a community partner. All because we’ve built a trusted relationship with Canton township officials—not to mention a network of clients whose needs we have always in mind. Whether your property seems sellable or unsellable, we’d like to work with you to make it into an even stronger asset.
Contact Steve Valli or Adam Reid
