Industrial Flex Building in Burnaby’s Royal Oak District | $2.75M Transaction
Successful Sale of Industrial Flex Building in Burnaby
Case Study: Facilitating a Seamless Transition for a Retiring Business Owner
On April 15, 2016, Sam Emam and his team successfully completed the sale of 5851 Beresford Street, Burnaby, for $2,750,000, achieving a 3% capitalization rate. This transaction underscores their expertise in navigating complex sales and securing favorable outcomes for clients facing challenging circumstances.
Transaction Details
- Sale Price: $2,750,000
- Sale Date: April 15, 2016
- Property Type: Industrial Flex Building
- Building Size: 10,600 SF
- Zoning: M4
- Year Built: 1976
Property Overview
Situated in Burnaby’s Royal Oak industrial area, 5851 Beresford Street is a versatile 10,600 square foot industrial flex building. For 35 years, it housed Art’s Custom-Made Furniture, a family-run millwork business. The property’s adaptable design and prime location made it an attractive investment for buyers seeking industrial space in a thriving commercial hub.
Neighborhood Benefits
The Royal Oak industrial area in Burnaby is renowned for its strategic location and robust infrastructure, supporting a diverse range of businesses. Proximity to major transportation routes, including the Royal Oak SkyTrain station, ensures seamless connectivity for logistics and commuting. The neighborhood’s blend of industrial and commercial establishments fosters a dynamic business environment, enhancing the property’s appeal to potential investors.
Client Relationship and Market Strategy
The owner of Art’s Custom-Made Furniture decided to retire after a car accident, necessitating the sale of the long-standing family business property. After interviewing multiple brokerage firms, the owner entrusted Sam and his team with the sale, drawn by their client-first approach and tailored strategies.
Sam’s team began by preparing a comprehensive due diligence and marketing package, ensuring potential buyers had access to all pertinent information. They advised the owner to declutter and remove debris from the premises, enhancing the property’s presentation. A targeted marketing campaign was launched, encompassing direct outreach, paid advertising, social media engagement, and listings on various commercial real estate platforms.
The team meticulously qualified interested parties, arranged property tours, and provided detailed offer reviews to the owner. This proactive approach generated significant interest, culminating in multiple strong offers. Through strategic negotiation, Sam secured the highest offer and ensured the owner had ample time to liquidate inventory before the closing date, facilitating a smooth transition into retirement.
Market Insights
In 2016, Burnaby’s industrial real estate market was characterized by high demand and limited supply, leading to competitive transactions. Properties in established industrial zones like Royal Oak were particularly sought after due to their strategic locations and accessibility. The successful sale of 5851 Beresford Street at a 3% cap rate reflects the market’s strength and the property’s intrinsic value.
Conclusion
The sale of 5851 Beresford Street exemplifies Sam Emam and his team’s proficiency in managing complex industrial property transactions. Their client-centric approach, comprehensive marketing strategies, and adept negotiation skills ensured a favorable outcome for the retiring business owner, highlighting their commitment to achieving client objectives.
Testimonial
"Due to my car accident, I was unable to continue running my millwork business of 35 years. After interviewing many large brokerage companies, I hired Sam to sell our industrial building at 5851 Beresford Street in Burnaby. Sam put himself in our shoes, listened to our challenges, and crafted a plan that worked perfectly for us. Our building sold for a great price in a fairly short period. I was able to retire, focus on my health, and enjoy life. Sam is a great friend now, and I've referred him many deals, including my family's 77-unit multi-family portfolio. His loyalty and client-first approach, along with his robust marketing program, make him the right commercial real estate agent. I highly recommend Sam for any owner looking to get the highest price in the shortest amount of time, as he delivered many times for us."
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