Challenge: Wilmington Investors, LLC purchased Wilmington Commerce Park — a five-building, 940,000-square-foot portfolio in Wilmington, OH — from DHL. At the time of the purchase, the buildings had been 95% vacant for two years with no new leasing activity. Wilmington Investors hired the Colliers team to assist with disposition and leasing efforts.
Strategy: The Colliers team marketed the buildings simultaneously to users and brokers across Ohio. Additionally, Colliers partnered with a local real estate company to leverage its connections to Wilmington institutions.
Result: Within nine months, the Colliers team sold the 327,470-square-foot Building 10 to Polaris Industries for $4.9 million. Four months later, the team also sold a 102,400-square-foot-building to Polaris Industries.
Within one year of being awarded the assignment, the team successfully leased 121,600 square feet to New Sabina Industries and 76,800 square feet to Dealertrack Digital Services.