When a business outgrows its place of operation, it seems like a great problem to have. But when one of our clients with a logistics business found themselves in this position, they searched for over 24 months to find their next warehouse, with no success and were running out of time.
Despite a healthy budget of $14 million, the owners of the business struggled to secure a property that met their requirements, with very limited stock on the market and no strong relationships with commercial selling agents.
The business was working closely with their bank, who recognised that there were limited properties on-market that suited the business, and recommended they engage the services of Costi Cohen.
After an in-depth briefing session to learn about the business’ needs and workshop their mandate, Costi Cohen was tasked with finding a new industrial warehouse within 12 weeks.
After just 5 weeks, Costi Cohen had identified the perfect opportunity off market, conducted all due diligence and successfully negotiated the purchase at 13 per cent below market price.
The Velocity of Success
In the ever-evolving landscape of commercial real estate, speed is paramount. Businesses grow rapidly, and when expansion is imminent, prolonged property searches can become a frustrating roadblock to progress.
When the client approached Costi Cohen, they had already expended considerable resources during their 24-month search.
Banking on Strong Partnerships
Costi Cohen works closely with banks around Australia in order to help their clients execute their commercial property strategies.
In this instance the referral of this client by a bank ensured a seamless transaction process that benefits the client. This dynamic partnership between the bank and Costi Cohen ensured the client’s funding was in order to consider opportunities within the client’s budget.
Closing the deal
Costi Cohen offers businesses, and their bankers, a competitive advantage when it comes to commercial property. Using a commercial property buyer’s agent will decrease the time to identify and negotiation on an opportunity, within budget.
Whether you’re an ambitious business outgrowing your current space, or a bank striving to deliver optimal solutions to your clients, partnering with Costi Cohen means entrusting your commercial real estate needs to an expert team that can transform challenges into opportunities.
