Property Overview

I represented the buyer in acquiring a 10,600 SF industrial property at 183 Progressive Dr, Taylorsville, KY 40071. My client, the largest online paint company in the country, is experiencing rapid expansion and needed additional space to store products near their current location.

Strategic Insights

The subject property, located next door to my client’s existing facility, provided a critical solution to their space constraints. Initially listed for sublease, I initiated discussions with the listing agent about a potential purchase. The current tenant, holding a purchase option, planned to exercise it and sell the property to us for a profit.

Negotiation Process

The seller’s initial asking price was well above market value. We negotiated diligently, ultimately reaching a more reasonable figure. Given my client’s proximity and strong reputation in the area, the seller was confident in our ability to execute the deal.

Due Diligence

Once under contract, we conducted a thorough due diligence process. The inspection revealed minor deferred maintenance, which the current tenant promptly addressed, ensuring the property met our standards.

Outcome

After several weeks of coordination, we reached the closing table. My client now has a spillover facility to meet their immediate needs as they await the construction of their new 30,000 SF facility on their land.

Conclusion

If you’re considering selling, buying, or leasing commercial property in Kentucky or Indiana, let’s connect! You can reach me at 502-536-7315 or raphael@grisantigroup.com.