Selling Your Commercial Real Estate
How We Find Buyers
What sets Triangle Special Properties Commercial Advisors apart from other commercial real estate brokerages is that we specialize in working with businesses. We talk to hundreds of business owners every year, many of which are looking to sell a building, lease a building, or buy a building.
We often meet buyers that purchase a business and want to move it to a different location, so they end up buying another building. There are business owners that sell their business along with the building, and 1031 exchange the proceeds into another building.
There is a lot of synergy between selling businesses and selling commercial real estate, and our experience in working with business sellers and buyers gives you the advantage when you sell your commercial property.
The Commercial Sales Process
Selling commercial property is more complex than selling residential property, and the buyers of commercial property tend to be more sophisticated and business-oriented.
Buyers of commercial property typically view the property as an investment vehicle designed to generate income, for value appreciation, a tax shelter, or some combination of all of these. If the numbers make sense, a bidding war can occur. If the numbers do not make sense, the sale could be tough.
The sales process for commercial properties requires a professional marketing package and is crucial to present your property in the best light.
If you have any of these to sell or lease...
We want to talk with you!
Freestanding office buildings, especially medical properties such as outpatient facilities and senior care facilities are especially attractive to buyers. As a result of our current low-interest environment, investors are looking for places to find higher returns on their investments, which has attracted many REITs, private investors, and real estate private equity firms to add medical real estate to their portfolios. The Triangle area - and especially Durham, is a prime market for medical office properties.
This is a very broad category that includes many subtypes. The primary categories of shopping centers include Strip Centers, Malls, Lifestyle Centers, Outlets, and Power Centers. Lifestyle Centers usually are anchored by upscale national-chain specialty stores, while Power Centers generally contain three or more dominant anchors. With the Triangle Region growing by leaps and bounds the near-term outlook for these types of properties is good.
According to HUD, multifamily properties consist primarily of rental housing properties with five or more dwelling units such as apartments or town houses, but can also be nursing homes, hospitals, elderly housing, mobile home parks, retirement service centers, and occasionally vacant land. Referring once again to the Triangle Area's robust population growth, in addition to Durham's burgeoning medical community, multifamily properties as a sector will continue to see increased growth.
New hotel construction is reaching record levels in the US due to the highest level of demand ever recorded. As an example, just try to get a room in Chapel Hill or Durham when there is a college basketball home game. Categories of hotels in the Triangle include Full Service, Boutique, and Extended Stay. Got one to sell?... Call us.
Land and Farms
My wife's friend and former colleague, Mr. George Overstreet (Professor of Real Estate at UVA's McIntire School of Commerce) has a favorite saying... "There's nothing more fundamental than dirt because no more of it will ever be made". Need we say more?...
Warehouse and Industrial
Subtypes of this type of commercial property include Heavy Manufacturing, Light Assembly, Flex Warehouse, and Bulk Warehouse. While Heavy Manufacturing is not a strong growth market in the US, The other three subtypes are reasonably strong. Bulk distribution centers serve companies ranging from WalMart to Amazon. These types of facilities are seeing strong growth due to the need for fulfillment of increased online sales. For Flex Space, we see continuous demand for smaller spaces in the 1,500 - 3,500 square foot range. There is a shortage of availability in the Triangle for smaller Flex Space.