Colliers International was awarded the assignment to assist with the disposition of two corporate surplus assets owned by Gildan. Gildan became the owner of these buildings due to an acquisition they made and did not have plans for the facilities that were idled by the previous owner. These buildings were previously used for textile manufacturing located in a tertiary area within southwest Virginia. The Carroll County Industrial Authority had previously attempted to purchase the buildings; however, a transaction never materialized.
The directive from the client was to sale these assets in a timely manner while still maximizing their value. Therefore, Colliers International went to work in creating a new awareness highlighting the attributes of the buildings. Meetings were held with local officials to discuss the ownership’s objectives and new marketing materials were put together.
In addition to the standard marketing we embarked on a physical canvassing campaign in which we physically called on users within the Hillsville and surrounding areas. The canvassing generated several inquiries and inspections of the buildings. Additionally, we continued to maintain conversations with local officials and the Carroll County Industrial Authority concerning their interest in the facility.
Within eleven months of taking these assets to the market, we were able to sell them to the Carroll County Industrial Development Authority. They intend to utilize them for economic development purposes for the recruitment of business and industry into Carroll County, VA.