Successful Sale at Crossroads Commerce Center
From Stalled Lease Listing to Successful Sale at Crossroads Commerce Center (Case Study)
Project
Project Overview
When the NAI Ohio Equities Industrial Property Team (IPT) was engaged to lease a ±9,700 SF office/warehouse condominium at Crossroads Commerce Center in Gahanna, Ohio, the path forward wasn’t straightforward. With the existing tenant still in place, limited leasing interest, and a property configuration that narrowed the pool of prospective tenants, the team recognized early that a different approach was needed. By recommending a strategic pivot to a sale and executing an aggressive marketing campaign, the team delivered a fast, clean outcome that served the owner’s goals far better than a lease ever could have.
Approach
Challenges & Solutions
- Challenge: The IPT was tasked with leasing a 9,700 SF industrial unit at Crossroads Commerce Center while the property remained occupied. For several months, leasing activity was minimal as the existing tenant prepared to vacate. The property’s high office percentage and single dock door limited its marketability for lease. Compounding this, the owner’s primary focus was on running their core business — not managing or growing a real estate portfolio.
- Solution: The team shifted strategy from leasing to selling, listing the property shortly before the tenant vacated. An aggressive marketing effort positioned the 9,700 SF industrial condominium as an attractive owner-user or investment opportunity, emphasizing its Crossroads Commerce Center location, I-270 access, and competitive $950,000 price point. The result was a fast, competitive sale process that aligned with the owner’s priorities.
Results
Within two weeks of listing the property for sale, multiple offers were generated. The property closed just 55 days after the sale listing agreement was executed. This swift transaction freed the owner from property management responsibilities, allowing them to focus entirely on their primary business operations.
Partnering with the NAI Ohio Equities Industrial Property Team was a gamechanger for us. They quickly understood our challenges and recommended a smart pivot from leasing to selling. Their proactive approach and market expertise resulted in multiple offers within two weeks and a successful closing just 55 days after listing. This allowed us to focus on our core business without the burden of managing real estate. We couldn’t be more pleased with the outcome.
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