Randall Commercial Group, LLC Facilitates the Disposition of Large Investment Property Portfolio
Randall Commercial Group, LLC has recently represented Morrison Development, LLC in the disposition efforts of their investment property portfolio that includes 6 properties in 4 states totaling 115,375 square feet. Elizabeth Randall and Coleman Morrison led the disposition and marketing campaign, and Randall Commercial Group, LLC is proud to announce that all but one of the properties have been sold. The most recent sale is an approximately 24,000 sq. ft. office/flex investment property in the Cahaba Valley Business Park. The Cahaba Valley Business Park is located in Pelham, AL a suburb of Birmingham. The other properties sold in the portfolio include 1) two light industrial investment properties totaling approximately 53,375 sq. ft. in Baton Rouge, LA, 2) an approximately 20,000 sq. ft. class A office building in Memphis, TN, and 3) an approximately 10,000 sq. ft. single tenant office building in Vicksburg, MS. The only property that remains is an 8,000 sq. ft. single-tenant, Sta-Home Health building in Jackson, MS (click here for Offering Memorandum). Other Randall Commercial Group, LLC team members contributed to the disposition efforts including Ben Johnson on the Vicksburg office building and Brian Phillips, CCIM on the Baton Rouge properties. Morrison Development, LLC has been thrilled with the efforts of Randall Commercial Group, LLC thus far:
The Randall team managed the entire sales process from visiting the properties, analyzing our numbers and each particular market, suggesting an appropriate marketing scheme including pricing, producing highly professional marketing materials, identifying potential buyers through an extensive network of contacts, distributing the materials with immediate, consistent follow-up with those buyers, receiving and analyzing feedback from them, suggesting adjustments to our offering based on that feedback, negotiating a deal, leading the work (being the exclusive contact point with each buyer) through the due diligence phase, giving good advice about keeping the deal alive and profitable as buyer issues inevitably arose, and finally pushing the process to an ultimate, happy conclusion. After putting together all the materials that would be needed by a buyer in due diligence and agreeing on asking prices, our function, as owners, was basically to get a weekly report and make decisions based on their recommendations for their implementation of those decisions, truly full service. – Bob & Cooper Morrison
For more information on how Randall Commercial Group, LLC can help you with investment property needs, please go to www.randallcommercailgroup.com.