CART

Challenge

Scott Womack, from Coldwell Banker Commercial, Capital Advisors, presented an older property with a considerable vacancy to the market. Jordan Wood, also from the same company, led a buying group that had a particular interest in value-add properties.

The property, operating at only 36% occupancy, posed a challenge in demonstrating how investors could achieve their desired returns while undertaking interior updates and a comprehensive modernization of the entire project.

Action

Jordan and Scott collaborated to craft a compelling vision for the clients, illustrating the potential transformation of the property. They provided detailed, step-by-step instructions on how to realize the envisioned improvements. Bids were obtained for all necessary updates, and Jordan conducted a thorough analysis, clearly outlining to the investors where their returns would be. To ensure optimal financing for the project, they engaged Carl Pankratz of Blakeacre Commercial lending, finalizing the analysis and securing the means to achieve their goals.

Result

The clients successfully closed on the property, which is currently undergoing an extensive renovation to modernize its interior. Positioned to fill a market gap in small office space, the property is anticipated to reach full occupancy within the next two years. The investors are poised to realize their goals and gains, eagerly anticipating the next opportunity on the horizon.
Jordan

For More Information, Contact:

Jordan Wood, CCIM
Investment Specialist
jordan.wood@cbclubbock.com
(806) 317-4666