LaFrance Corp. is a privately-held world leader of corporate branding and identification nameplate manufacturing. The Company owns a corporate headquarters building in the Philadelphia, Pennsylvania suburbs, as well as manufacturing and distribution facilities in Maryland, Florida and China.
As a result of operating efficiencies and evolving business practices, LaFrance sought to dispose of a surplus 30,600 square foot property in Maryland. SREA was retained by senior management to facilitate the sale of the property to monetize the asset to enable LaFrance to utilize capital for other operational needs.
- Performed a local warehouse/distribution and general market overview
- Compiled an assessment of sale and lease comparables to determine the relative value of the building on both a purchase and lease bases
- Conducted interviews with local commercial real estate professionals to determine the most qualified service provider for the assignment
- Mobilized, coordinated and oversaw the implementation and on-going marketing efforts to effectuate an efficient disposition or lease
- Evaluated proposals and agreements involved in the assignment, including purchase or lease agreements and associated documentation
- Performed an economic analysis of purchase and lease proposals
- Interacted with Township, County and State officials relating to government-sponsored incentives
How SREA Added Value
SREA provided recommendations to improve the physical condition and marketability of the asset, as well as context, for pricing on both a sale and lease bases. A unique sale initiative was established wherein local economic development officials and realtors collaborated to market the property and marshal State, County and Township incentives to grow the employment and industrial base within the community.