I had recently formed Lakota Commercial Realty, so the team agreed that marketing materials would stay with Cassidy Turley and that I would conduct the marketing effort using Lakota Commercial Realty materials.
In conferencing several times with the new building owner, it became obvious that the company wished to sell the buildings outside of a competing climate, meaning the highest and best use could well be a competitor's enterprise and therefore ineligible. I quickly established a list of companies to vet them with building ownership, and the campaign began.
Materials prepared for the building were thorough and detailed out of necessity. Traffic was brisk with clients procured directly, through local and national brokers.
Building One was put under contract for $1,332,500. Though there was allocation of some of that for included personal property, the price stayed the same and Black Oak Capital Holdings closed on December 28.
Two months later, Building Two was put under contract for $3,750,000. As in the case of Building One, personal property was accounted for within the contract but the price stayed the same. Metal-Matic, Inc., a Minnesota Corporation, closed with an all cash offer (no financing) that following April.