Tuning into the Right Deal Channel

5018 Express Drive South, Ronkonkoma, NY

The Assignment
Divesting Ronkonkoma Partners, LLC of their 13,000 square foot office building, the Ronkonkoma Business Center

The Strategy
I needed to develop a strategy for showcasing a fully stabilized office property with little apparent upside. Although fully leased and built to capacity on the 1-acre site, I was able to draw upon my development & planning experience to identify a means of increasing the GLA within the existing building footprint, offering a prospective buyer with an opportunity to add value with minimal capital outlay.

Having tested the market to determine the appetite for B Class office property in a post-Covid office market, the ownership and I chose to bring the property to market through the Ten-X property platform, thereby ensuring a fair market price would be obtained; and crucially for the seller, with a date-certain close and no buyer contingencies.

The Results
Coordinating a seamless collaboration among ownership, property management and the support from the incomparable Ten-X deal team, the transaction was swift, efficient and successful; with all parties extremely satisfied with the outcome.