RESOURCE Tenant/Buyer representative, Sam Smith was aware of a unique purchase opportunity – Sallie Mae ±321,000 SF headquarters office building located at 30 S. Meridian and 854 space Union Station garage.
“Sam Smith was very savvy in identifying this opportunity for us. With Sam’s help we were able to buy the building right, with a relatively quick lease up program. The building turned out to be a “home run” for us. Sam clearly understands the market and is creative in identifying opportunities to maximize the value of the asset. Sam is recognized by many as one of Indiana’s top Tenant/Buyer Advisors and his insights and recommendations were spot on.”
- Tom McGowan, President, Kite Realty Group
Sam was asked by Sallie Mae to identify potential sales strategies and buyers. Sam quickly identified the best buyer, Kite Investments, with a strong marketing capability to backfill the facility, a proven redevelopment tract record, and the ability to close on such a large and unique asset in a downtown office market with a 20%+ vacancy rate.
Sam immediately and successfully identified the highest paying and best buyer, correctly projected the final sales price – the same value indicated previously to Sallie Mae (which was substantially lower than the competitors’ forecast) and correctly identified many of the tenants that ultimately leased space in the building such as Eli Lilly’s vendors (100,000 SF). Sam represented Kite Investments in their successful purchase of the building, as well as represented the Lumina Foundation for Education (27,000 SF) on the lease for their headquarters location in the building. Sam’s superior market knowledge helped Kite instantly create a substantial multi-million dollar equity and value in the project.
Note: We have several professionals with substantial client transactional experience prior to joining RESOURCE Commercial, which is included above.