COMMERCIAL REAL ESTATE
Healthcare Real Estate | Seller Rep
Services Provided
Seller Representation
Statistics
± 6,076 SF
Client
1201 North Arlington, LLC
Client
Case Study
1201 North Arlington Avenue
Indianapolis, IN 46219
Background
Mitch Doner was contacted through the CCIM Institute‘s network of commercial real estate professionals to provide a price opinion for a single-story medical office building situated within Indianapolis’ Community Heights submarket, near Community Health Network’s Community Hospital East facility. The subject property was in the process of closing its operations and the owner/occupier was interested in selling the property, as it was their only owned asset in Indiana. Within days, Mitch provided the property owner with a price opinion for their property that would be the result of an aggressive marketing strategy and proactive operational brokerage activity. After he consulted with the property owner to understand their goals, expectations, and specific criteria for a proposed sale of their property, Mitch provided further information on the performance status of the nearby submarkets so that they may understand the procedures and prospective timeline of a future sale to a creditworthy party.
Strategy
Shortly after performing an initial visit to the subject property, Mitch realized that even though the office building was plenty flexible in its layout and current construction, the most-suited proposed future use for the building would be a continued medical office use or as a child day care facility. Even though the building would eventually require a cosmetic refresh of its finishes, it already featured (3) waiting rooms, (13) offices, and (8) restrooms—properly suited for a medical office use or a child day care operation. The subject property was formerly organized as a multi-Tenant asset, but it had most-recently operated as a single-Tenant commercial real estate building, which was most conducive and impactful for a future property owner.
Results
After softly marketing the property for a few weeks while the subject property was in the process of being vacated and cleaned up, Mitch was able to secure competing Offers to Purchase from (2) separate parties less than (2) months after being engaged (both parties were child day care facility operators). He then assisted the Client with evaluating the creditworthiness of each party, performing informational background reviews, and conducting informal interviews with each party’s commercial real estate Broker to fully understand the goals and objectives of each interested party. Once the property was under contract, the transaction consummated (66) days later with a simple due diligence process and ownership transition.
The client shared their feedback about the brokerage services experience with Mitch Doner and Bradley Company, stating:
President, Forte Investment, LP / 1201 North Arlington, LLC
For more information about how to sell your properties, buy new assets, find tenants, and manage the building you own, please visitthis link to our Owner Representation page.
“We had an excellent experience with Mitch. He went above and beyond regarding the sale of our commercial building. His communication was excellent throughout the process and his detail-oriented approach was the best we’ve experienced in our real estate purchases/sales. I would recommend him to anyone in a second! He is professional, thorough, well-educated regarding the market, and does the research necessary to determine a realistic asking price. We have never had a better person represent us in a real estate transaction!”– Val H.
President, Forte Investment, LP / 1201 North Arlington, LLC
For more information about how to sell your properties, buy new assets, find tenants, and manage the building you own, please visitthis link to our Owner Representation page.
STRATEGY
RESULTS
After softly marketing the property for a few weeks while the subject property was in the process of being vacated and cleaned up, Mitch was able to secure competing Offers to Purchase from (2) separate parties less than (2) months after being engaged (both parties were child day care facility operators). He then assisted the Client with evaluating the creditworthiness of each party, performing informational background reviews, and conducting informal interviews with each party's commercial real estate Broker to fully understand the goals and objectives of each interested party. Once the property was under contract, the transaction consummated (66) days later with a simple due diligence process and ownership transition. The client shared their feedback about the brokerage services experience with Mitch Doner and Bradley Company, stating:
“We had an excellent experience with Mitch. He went above and beyond regarding the sale of our commercial building. His communication was excellent throughout the process and his detail-oriented approach was the best we've experienced in our real estate purchases/sales. I would recommend him to anyone in a second! He is professional, thorough, well-educated regarding the market, and does the research necessary to determine a realistic asking price. We have never had a better person represent us in a real estate transaction!"- Val H.
President, Forte Investment, LP / 1201 North Arlington, LLC
For more information about how to sell your properties, buy new assets, find tenants, and manage the building you own, please visitthis link to our Owner Representation page.
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