Maintaining Client Relationships | Over & Beyond Service
The sale of the ABB Facility in Florence, SC exemplifies the principle of maintaining client relationships. The asset was sold to a client in 2013 who owned the property without incident for 7 years as a great value property for the buyer. The lease was absolute net, had annual increases for a mission-critical facility for a credit-rated tenant. On a routine check-up call in 2018, the owner mentioned they had been approached by the tenant to renew their lease.
The owner requested we negotiate on their behalf and secure a significant multi-year extension so the property could be sold. Because we had sold the building to the owner, there was a level of trust preestablished for us to get the best deal for the owner. After securing a lease extension more than 12 months prior to expiration, the seller awards us the assignment to sell the property. Using that knowledge and expertise from a sale and lease negotiation, the sale consummated shortly there after and the seller has happily 1031-exchanged into a larger property with more term.
ABB is a technology leader that is driving the digital transformation of industries. With a history of innovation spanning more than 130 years, ABB has four customer-focused, globally leading businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation, supported by the ABB Ability™ digital platform. ABB’s Power Grids business will be divested to Hitachi in 2020. ABB operates in more than 100 countries with about 147,000 employees.
type: Industrial | Net Leased
total sqft: 141,281 SF
location: Florence, SC