JULY 2023, SALISBURY, MD – The McClellan Team with SVN | Miller Commercial Real Estate recently sold 1315 S Salisbury Boulevard in Salisbury, MD. The team worked with Howard Properties to sell the former Parties Etc. property, located just across from Salisbury University. After many years of hassle-free ownership, they ultimately decided to sell once their long-term tenant elected to sell their business and vacate the property.
Many clients’ own income-producing real estate and are seemingly content with an on-time rent payment. The McClellan Team stresses the importance of not just collecting rent, but also reviewing the return that rent is providing on the actual building equity. In an ever-changing market, the most successful investors make this a regular practice.
The team listed both the South Salisbury property and another Fruitland warehouse for sale. They generated multiple offers on both and then worked with the owner to secure viable properties which could be acquired using the provisions of a 1031 exchange. This allowed ownership to defer some significant capital gains taxes.
The team’s efforts resulted in him diversifying his investments from two properties to now owning four properties consisting of 2 office buildings and 2 residential properties. Most importantly, ownership increased its overall operating income by over 25%.
“We were pleased to be able to secure multiple, quality investments together with professional property management allowing him to remain a relatively passive landlord.” Said McClellan.
Mr. Howard said, “I appreciate all of John’s time and efforts in selling my properties followed by his guidance and expertise in finding and negotiating the purchase of my exchange properties. John was available and assisted every step of the way and he truly helped me understand and walk through the entire process of both my dispositions and acquisitions.”
If the McClellan Team can assist you in evaluating your real estate or if you are interested in learning more about a 1031 exchange, you can contact John McClellan at 410-543-2428 or firstname.lastname@example.org, Kelly Jeter at 410-543-2440 or email@example.com, or Chris Messick at 410-543-2440 or firstname.lastname@example.org.
SVN | Miller Commercial Real Estate is a regional firm specializing in commercial real estate, providing advisory, brokerage, consultation, leasing, and asset & property management services to clients in the Mid-Atlantic Region. SVN combines a comprehensive national footprint with local decision-making expertise and market-leading execution*.
The Brand pillars represent the transparency, innovation, and inclusivity that enables Advisors to collaborate with the entire real estate industry on behalf of all clients. SVN’s unique Shared Value Network® is just one of the many ways that SVN Miller Advisors create amazing value and maintain an unequivocal commitment to their clients and community (#SVNgivesback).
SVN |Miller is an Accredited Management Organization® (AMO), with a 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 #9 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.