28,800+/-SF, zoned O-2, 50% leased at $103K/yr
This well-built office but dated office building with long-term tenants had been marketed for nearly two years via conventional methods, at a list price significantly above the tax assessment. Tranzon’s marketing plan included a low disclosed reserve, which exposed the property to an enlarged pool of bidders. This strategy was key in attracting interest and led to serious competitive bidding; the high bidder plans to occupy the building.