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At Maven Commercial, we believe that the key to success in commercial real estate is to use a customized marketing approach when listing and selling a property. When we were approached by a client who wanted to set the bar high for his exit strategy, we knew that we had to take a different approach than what everyone else was doing.
The challenge was that all the comparable properties were selling for a much lower $/SF than what our client hoped to achieve. Instead of just looking at market conditions and diving into comparable properties based on price per square foot, we analyzed all the possible uses for the property and drilled down on who would see the best value based on their specific needs. What we recognized was that the property had a unique size and could be marketed as an industrial condo with no condo fees and plenty of space to store product.
We had our angle and the confidence to withstand the critics we knew would be out there when we put the property out to the market. We deployed our highly customized marketing plan, which included a strong business proforma, and got it into the hands, inboxes, and onto the social media feeds of investors and end-users we knew were active in the Barrie and surrounding market.
Although we secured an offer in short order, that buyer miscalculated the land they’d have available despite us making it clear that the property had a slightly higher setback because it was bounded on three sides by the Ministry of Transportation land. We then entered negotiations with another party who attempted multiple times to come in with terms that did not match the comparable properties on the market, but they just didn’t see the special features that made the property more valuable.
In the end, Maven utilized all its networks to discover that an American company was buying companies in Canada and seeking to expand their footprint into the north of Toronto distribution channels. With some shrewd negotiations, the seller was able to extract 20% more value, equating to hundreds of thousands of dollars. Maven’s understanding of trends and its connectivity created an optimal situation. The buyer was thrilled to secure its footprint on such an accessible route to help its logistics achieve great efficiency.
At Maven Commercial, we pride ourselves on our ability to think differently in favour of what’s unconventional and right. We develop unique solutions that lead to success. If you’re looking for a team of expert agents who understand the complexities of commercial real estate and are dedicated to helping you achieve your goals, contact Maven Commercial today. We’re here to help you make informed decisions and achieve success in your real estate endeavors.