Sperry Commercial Global Affiliates – Flint Brokers & Associates assisted Diamond Used Auto Parts in their disposition of their auto salvage business and location.
Palm Bay, Fla. – September 21, 2021
Founding Principal, James Flint, CCIM of Sperry Commercial Global Affiliates – Flint Brokers & Associates, a commercial real estate firm headquartered in Melbourne, represented the seller, Diamond Used Auto Parts, in the sale of their 3.91 acre location in Palm Bay, Florida. Mr. Flint also located the buyer, a south Florida metals recycling business that created a new LLC for the acquisition, and guided all parties to a successful close.
Prior to the Sperry Commercial - Flint Brokers' team getting involved, the property had been listed for sale for 6 months with another firm, but the offering had failed to yield any realistic offers.
Upon his introduction to the seller, Mr. Flint analyzed the prior marketing efforts, and determined that a different approach was necessary.
“Our mission is to determine the needs of current buyers in the marketplace, and to tailor a package to demonstrate how an offering can meet those needs,” said Flint.
In this case, there was an operating business for sale that included all of its goodwill, its inventory, and all the real estate on which it was located. However, the financial records of the business were limited, and although there was a significant amount of inventory, the actual value of that inventory could only be realized by a similar business.
Nonetheless, the property was located on US Hwy 1, which is a major artery that originates in Key West and runs all the way up the eastern US. In this particular Palm Bay Florida location, US1 carried 27,000 vehicles per day on 7 lanes of traffic.
In addition, general industrial properties had been in high demand on the Space Coast, and many users and investors were in the market for a new acquisition.
Taking all this into consideration, Mr. Flint concluded that the location itself was the greatest selling point to the offering. With the blessing of his client, the Sperry Commercial - Flint Brokers team created a heavy marketing campaign that included aerial photography and video, property and location data, local zoning information, and a list of potential alternative uses.
“I was extremely impressed with the website they created for my business,” said company president, Martin Cassetta. “It was eye-catching - complete with videos, photos and plenty of information for a prospective buyer.”
The campaign was published on several commercial property focused search engines, business websites, the local MLS, and hosted on the Sperry Global network. The Sperry team also embarked on a social media advertising blitz, and Mr. Flint personally presented the offering to the Sperry family, along with several regional brokerage groups.
“Within weeks of the listing the property, we had amassed considerable interest,” said Flint. We had already received a few offers, and were in discussions with several others.
Ultimately a cash offer with a very quick-close was received, and the owner chose to enter into contract. The contract proceeded as planned, and the transaction was completed in 30 days, which is exceptionally fast for an industrial acquisition.
“Our job is to present the offering in the best light, and to generate the most activity possible for our client,” said Flint. “We will certainly offer our advice, but it is up to our client to determine which offer best addresses their needs. In this case, our client’s need was a quick-close, and we worked hard to make that happen.”
“I still cannot believe we closed the sale in such a short period of time,” said Cassetta. “I am extremely grateful for James’ dedication, responsiveness, patience, knowledge, and expertise in the real estate world.”
About Sperry Commercial Global Affiliates – Flint Brokers & Associates
Founded in by James Flint, CCIM, Sperry Commercial – Flint Brokers' team serves as expert commercial real estate advisors to owners and investors across a broad spectrum of industries. By combining their in-depth local market knowledge and connections, with the broad reach of their global affiliate network, and their utilization of the latest technologies, they are able to deliver strategic, targeted solutions to their clients, with integrity and professionalism. For more information, visit www.flintbrokers.com.