During the initial months of this assignment, RESOURCE Greg worked on finding tenants for the vacant space. Occupancy at the property was increased from 25.5% to 100% during this time. In August 2015, RESOURCE launched a national marketing campaign with an aggressive goal of selling the asset by the end 2015. The property was marketed to a large national investor pool, resulting in significant interest and several offers.
In December 2015, 4 months after starting the marketing process, the property was sold to an investor from Indiana for approximately 90% of the offered price. This exceeded the Seller’s expectations for both timing and price. The RESOURCE team was also retained by the new buyer to lease the property and future leasing activities.