$11.5 Million Off-Market Commercial Property Sale

October 31, 2022   |   Industrial

Three of our Senior Advisors come together to bring two long-standing clients together and close on this off-market deal.

A long-time client of SVN | Saunders Ralston Dantzler Real Estate approached our Senior Advisors to list a three-building portfolio for sale consisting of 197,000 square feet on 30 acres located in Groveland, Florida.

The Approach

Over 25 years ago, our client pioneered a vertically-integrated manufacturing and installation model to improve labor productivity and reduce cycle times. His company supplied wall panels, roof trusses, roof decking, interior wall framing, and other select building materials. They would partner with subcontractors who installed these products in nearly three thousand homes per year.

A Fortune 500 company purchased our client’s business in 2019, yet he retained real estate ownership. Then in May 2022, he contacted Jimmie Allen, a Senior Advisor at SVN | Saunders Ralston Dantzler, to discuss his desire to diversify his investments by selling the Groveland real estate asset. Our client requested that the listing remain off-market to maintain privacy throughout the process. "He wanted to be quiet about what he was doing, wanting to find potential buyers that may be interested in investing in this property in an off-market deal," according to Jimmie Allen.

Connections

Our client had previously worked with Jimmie on several real estate transactions. Although he understood that Jimmie specialized in agricultural land, he knew that Jimmie's access to advisors specializing in the industrial market at SVN | Saunders Ralston Dantzler would serve as a valuable resource in this commercial transaction. With confidentiality in mind, Jimmie would connect with Senior Advisors Augie Schmidt and David Hungerford, CCIM. "Within the company, we have different specialties. This transaction was like us coming together from two different worlds," David explained.

Augie and David both had a long-standing relationship with a potential buyer, a real estate private equity firm based in Ohio. After completing due diligence, they reached out to the group, and after about one week, they submitted an offer. The deal was closed shortly after, and the firm acquired the commercial property. Augie revealed that "When the buyer and seller met to tour the property, it was evident that the transaction was going to go through. Once they both got comfortable with each other, the personalities combined." 

Success

SVN's vast network of expertise creates an environment that allows for cross-market transactions like this to take place. The seller enlisted Jimmie to assist in the selling of his commercial property. Not having much expertise in commercial transactions, Jimmie would utilize his connections and employ Augie and David to find a potential buyer. Connections and relationships are essential in successful transactions and would become even more critical when trying to complete this off-market deal.

"We are passionate about the strength and long-term growth of Central Florida, and having the right partners to help us execute that strategy is crucial. SVN has proven to be an excellent partner to help us build our portfolio in a meaningful way. Not only are they experts in their field, but they are also a delight to work with and hustle hard. Integrity, excellence, and humility are a few words that come to mind when we think of David, Augie, and the SVN crew."

- Jack McCunn, Legacy Capital Partners

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About SVN | Saunders Ralston Dantzler

SVN | Saunders Ralston Dantzler Real Estate is a full-service land and commercial real estate brokerage with $4 billion in transactions representing buyers, sellers, investors, institutions, and landowners since 1996. We are recognized nationally as an authority on all types of land including, agriculture, ranch, recreation, residential development, and international properties. Our commercial real estate services include marketing, property management, leasing and tenant representation, loan sales, valuation, advisory, and counseling services for office, retail, industrial, and multi-family properties. With over 70 expert advisors located in Florida and Georgia, we provide our clients with professional knowledge and resources to ensure the buyer’s and seller’s needs are met.

David Hungerford
David aims to provide dynamic analysis strategies to locate the most efficient sites for each client. He is the mapping specialist within the firm which gives him an insider look on site selection and site-in-search analysis. David values each client as if they were his own family. His previo...