Shop at Home Network Inc. Case Study: Securing The Deal When Others Could Not
“We are thrilled to sell the building to a firm that will bring activity and jobs to the community. It is a fantastic building. We are also very pleased with work performed by Stan Snipes. He did an outstanding job marketing this great facility.”
Challenge
Despite working with two previous real estate brokers, Shop at Home Network, Inc. had been unable to sell its vacant 74,125-square-foot network building. When Shop at Home Network hired Stan Snipes as its commercial real estate representative, its property had been on the market for five years. As a result, Shop at Home Network was fielding offers well under the property’s value.
Solution
Using Snipes strong relationships and strategic marketing, he quickly promoted the property across numerous industries and connected with North Carolina-based real estate and development firm Drake Capital LLC.
Drake Capital’s growing tax software company, Drake Software, was looking to relocate to Nashville and needed a building with extensive technical amenities. Though few buildings on the market offered such features, Snipes recognized the Shop at Home Network building’s potential, which included:
• An open floor plan
• A fully operating security system
• Five large conference rooms
• 334 parking spaces
• Heavy electrical and wiring
• Redundant fiber optic lines
Results
Snipes negotiated to secure:
An accelerated transaction. While previous brokers handling the property were unable to sell it in five years, Snipes closed the deal in 10 months. This relieved Shop at Home Network from its unused property burden.
An offer that matched the client’s goal. After Shop at Home Network previously delt with insufficient offers, Snipes was able to secure a $3.23 million offer that reflected the building’s value.
The right client to the right space. Snipes was able to match a growing company with an affordable space. In doing so, Snipes helped to bring 40 new jobs to this up-and-coming area of Nashville.