Thomas Duke broker Steven Valli and our team met with the owners of a 28,000 square-foot shopping center in Canton, Michigan. They’d inherited the property after the death of the man who had owned it for 20 years, and they wanted help evaluating their options.
Given little attention for two decades, the property needed improvements of several kinds. Only 50 percent of the space was leased; those tenants were signed month-to-month and struggling to stay afloat in COVID chaos.
Steve and our team presented the inheritors with the options:
• Spend 7 figures + to clean up, improve, and fully lease the property to sell at market rate.
• Sell it unimproved at a discounted price.
Given their experience repositioning assets and their networks, the brokers were confident they could find a buyer either way.
Sell immediately – unimproved. That was the choice of all the owners.
Steve and our team did just that. They found a buyer immediately.
Regardless of condition or vacancy, we have buyers that are willing to take on investments that others may shy away from. They close quickly and are able to structure aggressive closing timelines. The market has not slowed down and neither have we. Call Steve today – 248.476.3700.
