A Case Study in Achieving Successful Real Estate Sales

Coakley Realty Demonstrates that a Proactive Approach Achieves Positive Results

Description of Property for Sale:

RMR & Associates, an integrated marketing firm, occupied 3,200 square feet located on two levels in a high-density area of Rockville, MD, in the DC suburbs. Robyn Sachs, RMR’s president, realized during the pandemic that her employees could accomplish as much working remotely as they had previously managed in the office. Sachs decided to put her office on the market, with this in mind.

Pros and Cons of the Property:

On the plus side, RMR’s office space was a unique property on two levels. As part of the Georgetown Park Condominiums located off a busy thoroughfare, Rockville Pike, and close to a major interstate highway, Route 270, it offered metro access and was close to a new, high-end shopping center.

However, the challenge to the Seller was that even in a good location, selling office space during the pandemic could be an uphill battle. Business owners looking to sell faced decreasing demand for commercial real estate as more businesses turned to telework and looked for opportunities to reduce operating costs.

Solution:

The Real Estate Brokerage Firm, Coakley Realty, had a team that was proactive from the beginning. Based on their many years of successful commercial real estate sales they took professional photographs and put together a marketing package which they distributed to potential buyers ahead of showings. They also made sure the property was priced correctly.

The Seller worked to ensure that the property was in the best possible condition for viewing by interested buyers. Sachs partially furnished the space after clearing it of unnecessary clutter and personal belongings.

Outcome:

Recognizing that the sale of commercial office space had slowed considerably during the pandemic, Sachs says she was prepared to “sit on the sale” for a year, maybe more. To her surprise, the week after she had engaged with Coakley Realty she had an interested buyer. The result: because of a proactive approach by the Broker and cooperation with the Seller, the sale took approximately four months, a very short timeline in today’s commercial real estate market.

When it’s time to sell your commercial property, contact Coakley Realty online or give us a call at 301-340-8700!