Challenge

The former Hardee’s property is situated on a large one-acre lot, offering vast potential for redevelopment. The property was recently remodeled in 2016, ensuring up-to-date and modern facilities, making it an attractive proposition. The seller’s main goal was to liquidate the property and find a buyer that provided the highest probability of closing. The deal was not without its obstacles, the property’s location in Claxton, a small market in the southeastern region of Georgia, presented a significant challenge. The search for the right buyer was further complicated by the need to find someone willing to move forward without waiting for a prospective tenant to fill the space. Further, in response to the prevailing economic climate, developers and owners/users had become more cautious in investing in value-add projects, resulting in fewer aggressive offers.

Strategy

Matthews™ agents Cade Norland and Connor Olandt presented the property’s challenges to Robert Anderson, VP of Auction Services, who suggested they utilize the Auction Services platform to sell this property. The agents strategically partnered with Crexi and its auction platform to capitalize on its benefits. By adapting their marketing materials and leveraging Crexi’s outreach capabilities, they efficiently prepared the asset for auction during a 45-day marketing period. Through Matthews™ Marketing and increased exposure on Crexi’s website, the team attracted buyers who understood and embraced the no-contingency aspect of the deal. Cade, Connor, and Robert’s collective expertise and innovative approach ensured a seamless transaction, making the most of technology and market insights to deliver exceptional results in today’s competitive real estate landscape.

Results

The outcome achieved for the client surpassed expectations, with the property being sold at 118% over the reserve price. This success can be attributed to the effective utilization of the Matthews™ marketing database and Auction Services, which played a crucial role in increasing exposure and directing potential buyers to the auction platform, resulting in a pool of registered bidders. The strategic combination of innovative marketing resources and expertise allowed the team to maximize interest and competitiveness, ultimately securing an exceptional result that exceeded the client’s goals and showcased the agents’ commitment to excellence.