Every real estate deal has complexities, but sometimes its best opportunities are hidden in the unique and complex details. That was exactly the case with 1450 Souter Blvd in Troy. It was the building’s unique customization and a lease that provided long-term security for the new owner that set this transaction apart.
The story of 1450 Souter Blvd began with a sharp business owner who had a knack for making smart deals. He’d purchased a fire protection company from its founder and eventually bought the building where the business operated. It seemed like a simple move. Then things took a more strategic turn.
After selling the business to a national firm, the building’s owner secured from that firm a long-term lease at an above-market rate. That turned the property into a serious investment opportunity. When the owner came to us wondering if the building could fetch the price he had in mind, we immediately saw the hidden value. The lease terms were solid, and the building had been customized for the fire protection company—which made it essential to their operations. Weknew wehad something unique that would catch the eye of the right investor.
One of the key features of the building was its fire extinguisher testing lab—a highly specialized and costly setup that the tenant couldn’t easily replicate elsewhere. This tied the tenant to the building in a way that gave any potential investor peace of mind.
That’s exactly how we presented the property. It wasn’t about square footage or location; it was about the security the tenant provided. The building’s customization meant the tenant—who had 10 years left on their lease— had no reason to leave. That’s the kind of long-term stability investors crave!
After a careful search, we found an investor who recognized the value of having a tenant who was deeply connected to the space, and they felt confident knowing they were securing a solid, long-term asset.
The sale of 1450 Souter Blvd was a win for everyone. The seller capitalized on the unique value of the building and got a strong return as he prepared for retirement. The buyer walked away with a property that not only offered an immediate return but also long-term security, thanks to a committed tenant and a specialized space.
This deal is a perfect example of how looking beyond the surface can reveal a property’s true potential. It wasn’t just about the building itself; it was about how the space perfectly suited the tenant’s needs and, in turn, created the ideal investment opportunity for the buyer.
At The Thomas Duke Company, we know that every property has a story, but sometimes the richness of its story isn’t obvious. Our job is to uncover those rich, hidden opportunities and connect the right buyers to them, just like we did with 1450 Souter Blvd.
If you’re thinking about selling or investing in commercial real estate and are looking for a fresh perspective, I’d love to help. Reach out to me, Jordan Schafer, at jschafer@thomasduke.com or give me a call at (248) 479-0130. Let’s talk about what’s next for your property.
