Special Use/Hard-to-Value Assets
A&G is able to utilize decades of experience to design custom marketing and structured sales programs for properties that are considered difficult to value by their non-conforming use, spot zoning, or other impediments to their highest and best use. Applying these tools guides the right buyers for educational, medical, governmental, institutional, or retail properties that don’t lend themselves to a conventional sales process. This ensures a fair and transparent selling process for buyers and sellers alike, overcoming objections from both parties as to the viability of the opportunity. The A&G structured sales process can also foster cooperation with local municipalities where a re-zoning or an adaptive use may be more attractive to their constituents and thereby attain a wider universe of bidders; resulting in higher sales price. These properties may be hard to value, but to us, they are not hard to sell.
Key services include:
- Multi-Use Land
BUCKS COUNTY, PA, VACANT RETAIL & PAD SITE
- 40,000 SF former grocery store turned indoor Amish market REO for a Credit Union.
- Excellent visibility and demographics for a reposition of the asset drew interest and bidders from outside the local area.
- Structured sales process protected the downside for the Bank and resulted in a successful recovery.
- A Chapter 11 sale of a vacant Sheehan Hospital to a medical user in Buffalo, New York.
WISCONSIN CHURCH PORTFOLIO
- Portfolio of Wisconsin Churches sold and closed to various buyers within 90 days of Marketing Launch.
CHICAGO DETENTION CENTER
- REO Property of Halfway House/Detention Facility in Suburban Chicago.
- Sold As-Is with no contingencies in 60 days.
- Chapter 7 Bankrupty sale of defunct Biodiesel facility in Newark, NJ.
- Sold As-Is to a user.
- Many environmental issues with the property.
MICHIGAN EMINENT DOMAIN CASE
Farmington Hills, MI
- Development site in Farmington Hills, MI.
- Auction utilized to achieve market pricing for an ongoing eminent domain dispute.
LAKE GEORGE MARINA (BOLTON LANDING)
Lake George, NY
- Dry-Stack Storage, Quick-Launch Marina on Lake George.
TWO FORMER COLLEGE CAMPUSES
Long Island, NY
- Both Properties were internationally marketed to both Schools and Developers.
- Pricing was driven by varied uses and zoning capabilities.
- One campus was sold to an international institution and the other to a developer.
FOUNDER OF AUNTIE ANNE'S PRETZELS, PA, PORTFOLIO
- Commercial portfolio included a community center that supported the local Amish community, three commercial buildings totaling over 150,000 square feet, and over 90 acres of development land.
- The estate and its advisors chose a national promoted and structured sealed bid deadline sale in order to have a year-end sale, choose the appropriate buyer, and to maximize price (large pricing variation depending on use).
- All properties were sold by year-end at approved pricing.
STAATSBURG, NY, LAND
- 170 acres in Staatsburg, NY, in the Mid-Hudson River Valley owned by a prominent real estate family who had owned the land for over two decades.
- The property featured a 13-acre lake, the former Staatsburg Reservoir, as well as a NY State DEC regulated dam and spillway, which had an effect on the overall value of the property as well as the topography of the land, which made it unsuitable for large scale development.
- We ran a sealed bid sale that garnered contracts from groups throughout the country with varied desired uses.