COMMERCIAL REAL ESTATE

Seller Representation | SinglePoint HCM

Mitch Doner, Commercial Real Estate Broker and Vice President, Director of Asset Resolutions at Bradley Company Indianapolis office
Vice President & Director of Asset Resolutions | Managing Broker
Services Provided
Seller Representation
Statistics
± 6,720 RSF on ± 0.37 AC
Client
SinglePoint HCM

Client
Case Study

4006 North Keystone Avenue

Indianapolis, IN

Background

Bradley Company was engaged to facilitate the sale of an office building that served as the headquarters for Information Dynamics, Inc. d/b/a SinglePoint HCM since April of 1984. SinglePoint HCM was in the process of winding down their business when they contacted Bradley Company and requested to be educated on the performance status of the immediate submarket so that they may understand the prospective timeline of disposing of their property and the best course of action in which to do so. Additionally, the Seller needed 3-5 months to prepare to depart their building as they wound down operations, but still retain satisfactory uninterrupted services across their platform to serve their Clients. They required the services of a Broker who was intimately familiar with the midtown/Keystone submarket as well as one who was capable of negotiating a Seller-favorable Offer to Purchase with a flexible runway for due diligence and closing.

Strategy

Bradley Company’s strategy to procure a favorable Offer to Purchase commenced with the arrangement and execution of research efforts in the midtown/Keystone submarket to discover which Tenants and/or building owners were looking for a free-standing building that they were wanting to call their own. The property had a flexible interior layout, robust security features, and room to expand the existing parking lot, if necessary. However, many interior finishes needed updating, so the building was priced accordingly and Mitch searched for a user who was wanting to perform cosmetic renovations to deploy their own style within the building.

Results

After less than (30) days of market exposure, Mitch was able to procure an Offer to Purchase from an out-of-market Buyer that had a local operational base in the immediate submarket. Within (4) days of receiving the Offer to Purchase, it was accepted by the Seller. As a result, additional care and consideration was necessary to understand the proposed Buyer’s timeline for closing and occupancy so the Seller’s departure from the subject property may concurrently occur. During the due diligence period, Mitch assisted with negotiating through a leaseback Proposal, in the event the proposed Buyer desired to close on the purchase of the subject property sooner than the Seller was prepared to depart the same. However, that backup plan was not necessary, as the settlement of the sale of the subject property occurred (1) day after the Seller was able to entirely vacate the space, which was (78) days after the subject property went under contract. Mitch then assisted the Seller and the proposed Buyer with the transfer of utility accounts and pertinent building services to ensure a seamless completion of the transition process. The client shared their feedback about the experience with Bradley Company, stating:
“I feel incredibly fortunate to have Mitch Doner manage the sale of our property. His industry knowledge and marketing skills are second to none. He is a fantastic communicator, making the entire process easy to understand and efficient. I drive by these buildings that have been on the market for months and months and think to myself, ‘they should use Mitch and Bradley Company to get the deal done!” – Trent D.
President, Information Dynamics, Inc

STRATEGY

RESULTS

After less than (30) days of market exposure, Mitch was able to procure an Offer to Purchase from an out-of-market Buyer that had a local operational base in the immediate submarket. Within (4) days of receiving the Offer to Purchase, it was accepted by the Seller. As a result, additional care and consideration was necessary to understand the proposed Buyer’s timeline for closing and occupancy so the Seller’s departure from the subject property may concurrently occur. During the due diligence period, Mitch assisted with negotiating through a leaseback Proposal, in the event the proposed Buyer desired to close on the purchase of the subject property sooner than the Seller was prepared to depart the same. However, that backup plan was not necessary, as the settlement of the sale of the subject property occurred (1) day after the Seller was able to entirely vacate the space, which was (78) days after the subject property went under contract. Mitch then assisted the Seller and the proposed Buyer with the transfer of utility accounts and pertinent building services to ensure a seamless completion of the transition process. The client shared their feedback about the experience with Bradley Company, stating:

"I feel incredibly fortunate to have Mitch Doner manage the sale of our property. His industry knowledge and marketing skills are second to none. He is a fantastic communicator, making the entire process easy to understand and efficient. I drive by these buildings that have been on the market for months and months and think to myself, ‘they should use Mitch and Bradley Company to get the deal done!" - Trent D.
President, Information Dynamics, Inc

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