HIGH POINT, NC, JUNE 2021- John McClellan, Senior Advisor with SVN Miller Commercial Real Estate completes sale-leaseback on 901 W. Market Center Drive, High Point, North Carolina. The facility is the headquarters of Carolina Custom Booth.
The owner, Gregory Grady, still had a strong desire to own and operate his business but determined he would prefer to lease his real estate and have the opportunity to deploy the capital from a sale of the building back into his business and other investments. The 17-year-old company has grown rapidly and is an industry leader in providing custom booth and table solutions for major hotel and restaurant chains.
McClellan co-listed the property with Bobby Finch and Tom Townes of Cushman & Wakefield in Winston Salem, NC. The listing received over 100 inquiries and 15 offers to purchase. After a vetting of buyers and a call for best and final offers, they were able to sell the asset with the long-term lease in place for above list price. The seller secured a long-term lease and retained control of his business facility while freeing up approximately $800,000 more than his most recent appraisal due to the structure of the sale-leaseback.
“The local expertise and market knowledge Bobby and Tom brought to the deal proved invaluable in this transaction,” said McClellan of his co-listing agents.
Andrew Small with SVN Trinity Advisors identified the property through SVN Marketing tools and brought the buyer Steve Fithian, also with SVN Trinity who assembled a small syndication fund to acquire the asset.
Perhaps you own or need real estate across the country and are not quite sure how to proceed. Although based in Maryland John has the ability, through utilizing the SVN Difference, to fulfill client needs throughout the country – and even around the world! To learn more about our reach, I invite you to reach out for additional information at 410-543-2428 or john.mcclellan@svn.com.
SVN | Miller Commercial Real Estate, with offices in Salisbury, MD, Bethesda, MD, Easton, MD, Seaford, DE, and Onley, VA is a financial services firm specializing in commercial real estate. We provide advisory, brokerage, consultation, leasing and asset and property management services to clients in the Mid-Atlantic Region. We combine a comprehensive national footprint with local decision-making, expertise and market-leading execution. We maintain an unequivocal commitment to our clients and community (#SVNgivesback).
SVN |Miller is an Accredited Management Organization® (AMO). Our team of dedicated professionals with market-leading knowledge includes a highly trained staff of Certified Property Managers® (CPM®), Brokers who hold the prestigious Certified Commercial Investment Member (CCIM) designation, and members of the Society of Industrial and Office Realtors (SIOR).
SVN | Miller Commercial is currently ranked #7 out of 200+ international SVN® Offices. For information on how to make SVN | Miller Commercial Real Estate the key to your success, contact 410-543-2440 or visit our website www.SVNmiller.com.
