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Michaels & Michaels
107
Glenwood Ave.
Raleigh, NC
Purchase
$975,000.00
6,000 sq.ft. |
Michaels & Michaels, LLP
extended their lease for 1 year and engaged Rich
Commercial Realty to search for a small building
they could
purchase that would be a sound investment and
provide for a suitable office environment. Rich
Commercial
Realty located a property that was of great appeal
but it was only for lease. Sixty (60) days later
circumstances caused the seller to entertain
a purchase. Acceptable terms were negotiated shortly
after due
diligence proved this to be a desirable transaction.
The building closed within 30 days of an accepted
contract. Rich Commercial Realty worked with
providing
timely information helpful to the appraiser and
offered alternative funding sources to the Buyer
that enabled
them to arrange an attractive financial package. |
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McKinney + Silver
318 Blackwell Street
Durham, NC
Lease
43,000 sq.ft.
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McKinney & Silver
became a client of Rich Commercial Realty in
1994 when Michelle Rich Goode
first represented the agency in a lease expansion
and renewal in the building they had occupied for
25 years. This assignment enabled the agency to
continue to grow in newly retrofitted space
through tenant
improvement dollars that were negotiated as well
as additional expansion and contraction options
and a new base year for operating expenses.
Over
the course of the next ten years Michelle negotiated
two additional renewals
and expansions
and helped McKinney & Silver relocate their office
facility from Raleigh to the American Tobacco Campus
in Downtown Durham. In addition to the concessions
from the Landlord to entice this prestigious client
to this historic preservation project next to the
Durham Bulls Athletic Park, Michelle assisted with
additional concessions from the City of Durham for
the new jobs creation.
The Blackwell
Building at 318 Blackwell Street, originally constructed
in
1902, is now McKinney’s
new headquarters. It has been completely transformed
by the creative design teams of Duda Paine Architects
who designed the structural modifications and additions
and Alliance Architecture, the firm responsible for
the creative interior design. Michelle assisted with
additional recommendations of a local team that included
a project manager and legal counsel all of which
facilitated the transaction to McKinney & Silver’s
advantage and total satisfaction.
The long
standing relationship between McKinney & Silver
and Rich Commercial Realty epitomizes the mission
of Rich Commercial Realty which is “to provide
extraordinary services to clients that creates value
for our clients and inspires their loyalty.” We
appreciate McKinney’s loyalty through the numerous
assignments and changes in leadership over this 10
year period. Commercial real estate is an extremely
competitive business, yet McKinney had confidence
that we would work as a team to achieve the desired
result. “ I am truly proud of this assignment,
but more importantly, I value the relationships that
have come from this experience,” stated Michelle
Rich Goode.
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