The School District of Philadelphia (“District”) had a desire to dispose of assets that are no longer in use for its student population.
The District retained our team’s services to assist in facilitating the sale of these properties.
With the market intelligence and experience in the urban environment that many of these properties are in, our team utilized its unique proficiency to maximize the financial value on the sale of these properties.
One of the first transactions completed was the sale of the former John Wanamaker School – a 194,000 SF building surrounded by 4.6 acres – that included executing an Agreement of Sale within 60 days of the assigned listing.
Our competitive marketing strategies resulted in extreme increase in the price offered during “best & final” period. We were able to leverage the negotiation of the sales price resulting in a 56% higher offer than the client’s suggested asking price. The final transaction value was $10.7 Million.