November 30, 2021

With You When the Ride Gets Rough


With all their regulatory complexities, land deals nearly always take longer to close. But even for a land deal, this one was a marathon—on a roller coaster! And yet, the sellers left the ride praising Dave Tesch and Frank Rakipi for service that was so “kind, patient, diligent, and professional” it “kept us going.”

The sale of the three parcels on Van Dyke Avenue involved two owners rolled into one deal spread over four years, and it had enough ups and downs to fill a small book. Long story short: the first buyer withdrew after 10 months when his development tenant backed out. The second buyer strung the deal out for another 10 months, then couldn’t follow through with zoning requirements. The third buyer—a hotel developer—seemed strong. Then Covid shuttered hotels—and city governments.

While working to keep the zoning process alive and the buyer’s gaze on the big picture, Dave’s time was equally spent explaining to the two different sellers the ever-changing process, soothing their worries, and reassuring them that the properties would sell. In August, they did—for a very strong $1.2 million.

After closing, one of the sellers emailed Mr. Duke about this extended roller coaster ride. She wrote, “This was far deeper than just a business deal because of the way Dave handled everything. He carried the weight for one less worry for me.”

Commercial real estate transactions are subject to all the ups and downs of life. The best brokers are more than savvy deal makers. They’re vision keepers, coaches, and encouragers when the ride gets rough. You need a broker with abilities that big. Call Dave and Frank at the Thomas Duke Company.

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