- Situs
was representing a seller of a land tract when it recognized the
potential for assembling it with three contiguous parcels of land that
were not for sale to increase the attractiveness and value of each
parcel as one single, larger tract rather than individual parcels
- Each
property had its own strengths and weaknesses – combining
them alleviated the weaknesses and created a high-value land tract
- Situs tracked down and met with the property owners, ultimately agreeing on a suitable sales price for each owner / parcel
- Situs created a marketing plan to sell the property at a blended price and sought out potential buyers
- An investment group was identified as a strong prospect and was contacted
- Situs negotiated an offer near the full asking price that was accepted by the individual tract owners
- Contracts were contingent upon two factors:
- The properties being re-zoned from Commercial Mixed Use to General Commercial
- Right-of-way and sanitary sewer easement issues being resolved
- Situs
worked closely with the Buyer and Buyer’s developer in the
re-zoning process, with a zoning change being successfully approved
- Situs also oversaw the resolution of easement issues, including:
- Abandonment of access easement granted to third party
- Proper recording of sanitary sewer easement
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