Challenge

In May of 2012, Colliers International was engaged to assist in the disposition of a 50,000 square foot manufacturing facility in Conover, NC. The facility had recently been taken back by a lending institution and a majority of the electrical copper wiring and switchgear had been removed by thieves.

Strategy

The seller directed Colliers International to secure a buyer in the least amount of time possible to mitigate additional vandalism and lower property value. Colliers immediately started an aggressive marketing approach for the facility.

Services

  • Marketing
  • Purchase Contract Negotiations
  • Transaction Management

Results

Within four (4) months Colliers International secured a buyer for the facility at a price higher than average building sales within the Catawba County market. In December of 2012 Taiji Group (USA) Inc. purchased the building to open their first manufacturing facility in the United States.