What happens when a business owner is ready to retire and still wants to walk away with maximum value? You get a deal like the one just closed at 4150 Varsity Drive in Ann Arbor, sold for $3,185,400.
The owner had been running his business out of this 25,364 SF flex building since the early 1990s. When it came time to step away, he didn't take the simplest route. Instead of just listing the building, he sold the business itself to a competitor, structured a NNN lease with that new tenant, and only then brought the building to market, now positioned as a turnkey, income-producing investment property. Two transactions, one well-orchestrated exit.
Before the property ever hit the market, he also got ahead of the issues that typically slow deals down. New roof, fresh exterior paint, resurfaced parking lot, all handled before listing rather than negotiated after the fact. No surprises during due diligence, no last-minute renegotiations. Just a clean asset that buyers could feel confident about from day one.
That combination, a stabilized NNN lease already in place and a property with nothing left to fix, generated real demand. The listing drew multiple offers from Thomas Duke's local network, and went under contract within weeks. Jim Porth, Partner, worked closely with the owner from the start, helping shape the strategy. Jordan Schafer represented the buyer, whose offer ultimately won. Both sides of the deal, all Thomas Duke Co., start to close.
Thinking about your own exit strategy, or looking for NNN investment properties in Southeast Michigan? We'd like to talk.