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 1950’s and had several expansions over the years.  The second building was newer, built in 1982.

Challenge

• Agricultural zoning surrounded the site 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 manufacture aerospace parts.

Services

• Colliers Pinkard's Industrial team designed a two-tiered marketing plan.
• The 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 partners.
• If a buyer was not found for the facility and equipment, the second phase marketing plan was to auction the equipment and sell the buildings separately.

Results

• A comprehensive global search did not identify any interested prospects for the two-building complex and existing equipment. 
• Within months of deploying phase two and making the buildings available individually, two buyers were identified, the equipment was auctioned and the combined sales resulted in over $3.8 million in revenue for Northrop Grumman.

"...[Colliers Pinkard] generated multiple interest which provided us the benefit of negotiating from a position of strength in structuring a contract."
     - A.J. Paz, Corporate Real Estate Manager
       Northrop Grumman

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