September 23, 2021

When the door closed, it closed hard and fast

In February 2020, a lending company with whom I have a long, trusting relationship asked me to list a restaurant property they’d received on foreclosure. In downtown Berkley, it had a great location, included all the fixtures, furniture, and equipment, plus a nice buildout. We expected a quick sale.

Two weeks later, Covid slammed all public doors shut. We continued to market the building, but buyers couldn’t see light at the end of the tunnel. They knew restaurants would be some of the last businesses allowed to open. Our phones were silent.

Because of the relationship I have with the seller, I couldn’t let the building sink silently into dust and disrepair. For more than a year I visited the property weekly. Each time, I checked the heating, cooling, water, sewer, drainage, and electrical systems. I followed through on small, necessary repairs. I kept neighboring businesses updated. As a broker, I didn’t need to do any of these property management chores. I did them because I value the trust of the seller.

Then, with spring came the news that restaurant doors could open again. Buyers saw the light they’d been waiting for. Because we had continued our marketing throughout the silent year, we had a blizzard of calls. Because I had nursed the property through shutdown, it showed beautifully. We quickly had four offers and closed in July with a cash sale.

At the Thomas Duke Company, we pride ourselves on being brokers you can trust with the smallest of details. And that means more satisfying sales.

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