19 Warehouse Row, Albany, NY
SALE
Summary
A large developer in the Capital Region was looking to dispose of a long held industrial asset in a quick and efficient process. With minimal inventory of actively marketed properties, Culberson was able to source multiple buyers prior to public marketing of the site.
Deal Size: 64,908 SF, $5,200,000
Seller: Columbia Development Properties
Purchaser: Rosenblum Development Corporation
Situation
Columbia Development was looking to divest a long-held warehouse asset in a quick, efficient manner. To minimize disruption to the tenant’s, the goal was to sell the property without publicly marketing the space.
Strategy
Provide enhanced due diligence materials to a small group of potential buyers for extensive underwriting prior to touring the space in order to minimize the number of groups through the leased premises
Result
Culberson was able to secure multiple offers on the property from financially capable investors and was able to bring the transaction to closing very quickly to satisfy the seller’s timelines.