“Buy low, sell high.”
Of course. It sounds simple. But market prices rise and fall over time, and a business ready to change locations usually needs to act immediately. To reap a profit on the sale of a property it’s outgrown, a business must employ foresight, planning, and capital.
Discraft did, and their efforts rewarded them.
In 2012 the company purchased a property at 51000 Grand River, on the west side of Wixom. The 45,000 square-foot building on 5 acres has the potential of expanding to 100,000 square feet. This building on Grand River was to replace a building owned on Beck Road.
Rather than selling the property they’d outgrown, a 17,500 square-foot building at 29592 Beck Road on the east side of Wixom, the company looked ahead and held onto it. For 7 years they paid the taxes and utility costs of the property—and watched the market. In 2019 they decided the time was right. Though less than half the size, the old building sold for virtually the same price that Discraft had paid 7 years earlier for their spacious new location on Grand River.
If your business would like help timing the market cycle to make money not only on your real estate, but with your real estate, call Mark Schafer at the Thomas Duke Company.