Challenges:
The multi-tenant retail shopping center was located in a small, rural market with a limited buyer pool. The building was older, had some past roof issues, and one tenant was paying significantly below market rent. The building was also 55% vacant at the time we took the listing to market.
Actions:
Justin Langlois launched an aggressive marketing campaign that generated multiple offers. Instead of simply negotiating with the best offer received, Langlois and team held a "Call for Offers," where all interested buyers submitted their best and final offers by a deadline, creating a competitive environment to maximize the property's value. The “Call for Offers” format has a similar feel to that of a property auction.
Results:
Testimonial
"Justin and his team were true professionals throughout this process. Despite the challenges with the property, they generated significant interest and guided us through every step of the deal. The call for offers created a competitive atmosphere that maximized the value of the property."
- Nicolle Schultz