Metalico Building

Challenge

• ECR was hired to solve for the proper disposition of Metalico’s 32,000 square foot warehouse property in Buda, TX.
• The property was in need of attention and ECR’s initial goal was to assist in positioning the asset for a quick and top-of-market price sale.
• When ECR was engaged, 17401 S IH 35 was slated for disposition within a 5-7 month window.

Strategy

• ECR and Metalico worked together to create a clear and accurate schedule, pricing, and strategy for the property.
• Throughout the planning effort, ECR researched and prepared reports on all recent comparable sales transactions as well as similar properties that were on the market at that time.
• Once pricing was established, the ECR team created an aggressive marketing campaign designed to directly target all potential users as well as local and regional real estate investors and brokers.
• This plan was immediately implemented as ECR approached and presented the opportunities to all neighbors, prospective tenants/users, as well as investors that would likely be the best suitor for the property.

Results

• ECR successfully represented the sale of 17401 IH 35; a 32,000 SF office/ warehouse building situated on 10 acres located on Interstate 35 in Buda, Texas.
• After an initial contract fell through with a very qualified and ready buyer, ECR sourced a second qualified buyer for the property and was able to negotiate the optimal sales price.
• By letting all other backup suitors know about the opportunity and then leveraging the interest, the new buyer was selected quickly.
• ECR attributes this success to Metalico and their ability to be extremely responsive and decisive after all information was presented, and they were able to do this all the way from New Jersey.