Northrop had recently acquired the Grumman Aerospace group. They inherited several east coast facilities including a two-building, 365,000-square-foot complex in rural Baltimore County which they wanted to sell. The first building dated back to the '50s and had several expansions over the years. The second building was newer, being built in 1982.

Challenge:

• The site was surrounded by agricultural zoning and an affluent residential base opposed to future development and heavy truck traffic.
• The owner was hoping to sell the project to a related industry that would make use of the bundled opportunity of two buildings fully equipped to manufacturer aerospace parts.

Services:

• Designed a two-tiered marketing effort. Our initial focus was on selling the bundle package of two operating facilities with equipment in place. All logical prospects were identified on a global basis through the Colliers International structure.
• If within this initial effort, a buyer for the bundle operation was not found, we would go to the second phase - auction the equipment and unbundled the buildings.

Results:

Within months of making the individual buildings available, a separate buyer for each building was identified resulting in sales that generated $3.8 million for Northrop Grumman.

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