Buying & Selling x 3! – The Triple Play
Challenge:
Zavation, a specialty medical device design, manufacturing and distribution company, has experienced rapid growth since its first sale in 2012, requiring a need to double its footprint every 3 to 5 years. Once the firm decided to manufacture in-house their standard office space was not adequate and their first facility was purchased in 2013, which started their hockey stick growth and need for a strategic commercial real estate partner.
Action:
400 Liberty Park – 9,100 SF Office-Warehouse facility acquired In 2013 and sold in 2016.
220 Lakeland Parkway – 20,500 SF Office-Warehouse facility acquired in 2015. The facility underwent two expansions to increase the size to 36,000 and sold in 2021.
3670 Flowood Drive – 74,000 SF Manufacturing-Warehouse facility acquired in 2021 and underwent a massive $3M+ renovation before the client moved into the facility in 2022.
Result:
- Achieved disposition prices above client’s overall, purchase and renovations, investment in facilities.
- Minimal to No holding periods for facility being disposed of upon new facility being renovated and ready for occupancy.
- Successfully structured sale-leaseback provisions in contracts with Buyers to accommodate timing of client’s renovation and move to its new facility.
UCR Total Transaction Value: $8.6M
I have thoroughly enjoyed working with the UCR team over the years and they have always been my go-to trusted advisor for our commercial real estate needs. Their local market knowledge and experience is the best around. They have been valued team member in our company’s rapid grow strategy over the years and we look forward to working with them for years to come.
— Jeffrey Johnson, CEO – Zavation Medical Products