• Crown Plaza Farmers Branch Case Study

Crown Plaza Portfolio Case Study – 3-Property Office and Flex Sale

Background: We called on the institutional owner of this office and flex portfolio and were given a chance to produce our Broker Opinion of Value competing with several other brokerage firms for the listing. Through our persistent, aggressive and professional approach and consistent follow-up, we demonstrated how we’d work the marketing process and eventually won the listing and were hired to market and sell the asset.

Results: Occupancy had been a challenge with this asset which was at about 76% when we brought the portfolio to market. Several potential buyers said we would never get close to our pricing expectations based upon the current challenges facing the office environment, current interest rate environment (8-8.5% for this type of property) and rising expenses. Our team of Niveen Widyan, Laura Bailey and Jerad Rector created drone videography, a compelling Offering Memorandum and called on hundreds of other property owners to drum up activity.  In a short time on the market, we toured several prospective buyers, secured 6 offers and sold the property for a price which pleasantly surprised the Seller.