One Innovation


One Innovation was being foreclosed on in January. At the time of the foreclosure the building was 100% vacant. Despite the foreclosure and the lack of tenants our client smartly wanted to focus the marketing strategy on value enhancement for the project, instead of positioning the deal as a distressed asset. The goal was to sell the building by the end of the year and limit the amount of any capital investment into the project.


Overall REA | Real Estate Advisors developed a marketing plan that targeted: (1) end user, (2) developers that represented tenants and (3) tenants greater than 15,000 square feet whose use allowed the building to be utilized in a substantially ‘as is’ condition and that could create immediate cash flow to attract developers and/or investors to the property.

These efforts resulted in a national government tenant making an offer to lease the building. Upon the award, REA | Real Estate Advisors revised the sales package for the property to include the Tenant’s lease information to better position the property as an investment property. In addition to updating the sales package REA developed a website specifically for the property, informed potential investors of the changes to the project and updated the property sales profile from owner/user opportunity to investment opportunity


Within a week of completing the new package for the property there were three offers from developer investors and a decision was made to proceed with one. The parties entered into a purchase agreement and the sale closed within 30 days. This was a win- win- win transaction. Our client achieved their objective of selling the asset before the end of the year at a value added price. The national government tenant was able to move into the space they wanted with the terms they requested. The new owner purchased the asset at less than replacement cost.