John Eckley, CCIM, MBA, Civil Eng.’s Post

Congrats to the good folks at Western SC | Economic Development Partnership and the South Carolina Department of Commerce! Their hard work, as is often the case, was a huge factor in getting Columbia Vehicles to locate in Aiken/SC! For those not immediately tangential to this deal like we were, I thought it might be interesting to overview from a broker's perspective how deals like this come together. - In this deal, we represented the seller. (I've included a Case Study and Video as reference for the steps we took in representing our client). Our fundamental goal as fiduciaries for our client, Fenix Manufacturing Solutions, was to maximize their return on the building. Ultimately, we ended up with two different prospective buyers at the table, both of which would've been impactful for our community. Of particular note here is the $/SF that we were able to demand for the facility, given market factors at play including limited availability of facilities. We negotiated hard using the data at our disposal. Additionally, we were able to close quickly (64 days). Glen Caulk with Nelson Mullins Riley & Scarborough did an tremendous job representing the seller as attorney. - Video Overview Here: https://lnkd.in/ePBvZNaT - Case Study: https://lnkd.in/eXDdAdwQ - Damien Lanclos, CCIM represented the buyer, Columbia Vehicles. His role was to locate the best facility for his client, whether in the CSRA, or some other market. Damien was thorough and pushed hard for his client. Upon putting the property under contract, Damien worked diligently on behalf of his buyer to investigate the property via typical due diligence assessment and more specifically, regarding environmental concerns. Damien leveraged the Property Condition Assessment on the property to push for a reduction in the sales price, which he ultimately received. Additionally, Chris Driver and Hull Barrett, PC represented Columbia Vehicles on this deal as attorney, and were a pleasure to work with. - Western SC | Economic Development Partnership and the South Carolina Department of Commerce ensured the site was competitive nationally, balancing tax incentives with substantial community and economic benefits. There are relatively stringent requirements related to the quality and pay of jobs that are produced. While the taxes paid by the entity end up reduced, the jobs produced and the ripple effects of the income spent in the community more than offset any incentives. (I don't have visibility to what those were). This deal not only represents a significant transaction but also a strategic investment in our community’s future, demonstrating the powerful impact of collaborative economic development! #economicdevelopment #CommercialRealEstate #IndustrialRealEstate #Manufacturing #SiteSelection