|
Project Outline
In the fall of 2006, Jason Rosauer and Dave Speers, of GVA Kidder
Mathews, were engaged by Associated Grocers to list for sale the
Associated Grocers 55.23 acre Seattle Distribution property. This
property included about 1.1 million square feet of improvements,
primarily distribution and cooler/freezer industrial buildings.
In October, 2006, Rosauer and Speers won the exclusive listing
assignment competition for the disposition of the AG Seattle property.
Our assignment included creation, organization and dissemination of the
exhaustive materials relating to the subject property in less than three
weeks, with the goal of launching the full marketing program and
identifying the final purchaser prior to mid-December, in the middle of
the Holiday season of that year.
Services Provided
We created and launched the full marketing program for the Associated
Grocers disposition and, within the first round offering timeline of the
first week of December, received close to 250 separate prospective buyer
registrations from our initial marketing database of nearly 40,000
prospects. Each registered prospect was thereafter carefully catalogued
and tracked by the listing agents by doing the following:
-
Preliminary vetting of the
capabilities and financial capacity of each registered prospect.
-
Monitoring of document downloads by
registered prospects to determine their level of engagement in the
subject sale offering.
-
Receipt, cataloging and secondary
vetting of prospects that submitted initial purchase offers at the
first round “call for offers”
-
Selection of a final 7 (appx.) offers
that were subsequently invited to “better their offers” for the
second offering round.
-
In person interviews of the final
three selected offering “finalists” after receiving their second
round offers.
-
Selection of the final purchaser, The
Sabey Corporation, based upon the in person interview and careful
analysis of the finalists engagement and understanding of the
Associated Grocers offering.
How We Added Value
-
From an initial anticipated Associated
Grocers’ sales goal of $75 million, listing agents bid the final
purchase price up to $91 million.
-
Assignment
exceeded client’s pricing and timing goals in less than 6 weeks of
total transaction time.
|
Seattle, Washington
|
