How to Sell a Landfill

Or anything, for that matter, that is not simple?

You use The Comprehensive Asset Sale™

We were hired to sell a 20-acre landfill in a fast-growing area of Charlotte. After more than three years of advisory and marketing work, the landfill will be sold to SunCap, and they have a deal to build a 227,000 SF, $58 million dollar HQ and assembly facility for Bosch Rexroth.

A lot of work goes into building an HQ on a site that used to be a City of Charlotte landfill! The conventional wisdom in the Charlotte broker network was “that site is undevelopable.” Despite the fact that busy SouthEnd borders it and over 175,000 cars per day pass by on I-77 and Tyvola Roads, it has been dormant for over 20 years due to its complexity.

… And the owner was procrastinating.

Which is understandable. Many leaders don’t want to tackle messy real estate projects, no matter how competent they are. However, real estate affects everyone in the organization, including customers and the community.

Real estate becomes even more complicated when the best and worst-case scenarios are not clear. Or when the division of labor has yet to be established and there is no strategy.

Experienced leaders know that measuring the success of a real estate project is challenging, so real estate mess often sits until the “time is right.”

… Which leads to procrastination. Properties linger, real estate cycles run their course, and opportunities pass by.

The truth is, your real estate is worthless if you do not know how to sell it.

And keep in mind, today’s markets are turbulent. Even the most straightforward real estate takes longer to sell in times like these.

It even takes longer to sell simple commodity real estate like a free-standing Walgreens.

So how do you sell something even more challenging, risky, and time-consuming, like a contaminated landfill, a coliseum, or a coalmine in markets like these?

At Cardinal Partners, we use The Comprehensive Asset Sale™, a simple solution for selling any real estate asset, small or large.

We created it when we first started Cardinal over 15 years ago, and we use it on every assignment, no matter how straightforward it appears at the outset. The steps that we take are not overly complex, but they do require time and effort.

It’s a framework that helps leaders, managers, and stakeholders make decisions with confidence. We do this by giving them rules and tools to help the team think clearly and with conviction.

Brokers do not want to sell challenging assets like coal mines. Leaders know first hand that their property is complicated and can’t be sold with a process similar to that of selling commodity real estate. If a broker uses that approach, the result is uncertain, and most likely, they will end up with an embarrassing busted deal that is a colossal waste of time.

It’s our job at Cardinal Partners to ensure that doesn’t happen.

The good news is, there are many opportunities for real estate investment these days. Knowing how to stand out in a crowded market is key to avoiding a botched transaction. The Comprehensive Asset Sale™ helps you close the transaction with the right people at the right time.

No more procrastinating.

By the way, if you need help selling your property…

Cardinal Partners helps clients with boutique solutions beyond brokerage: advising, consulting, step-by-step lease and sales tools, and access to major players in real estate. We orchestrate every project we accept to a successful and happy completion

“John has a high tolerance for the mental pain it takes to solve a complex problem. Frankly, his peers in the brokerage industry don’t have it either. John’s experience as an operator, investor, developer, and broker gives him a unique perspective when looking at opportunities. His vision and ability to think forward are unique in his profession. His ability to see the bigger picture and what the future looks like in terms of opportunities is remarkable. He is also networked—he has deep contacts with all the major players locally and around the region. John’s network has opened doors for us. People take his call”.
—Stephen Pandos, Director Of Finance, Insite Properties

Real estate transactions can be fraught with frustration and pitfalls.

Sometimes the hardest part turns out to be working with your broker, the person who is supposed to help you through the complexities. Veteran commercial real estate broker and client advisor John Culbertson discovered that brokers’ interests aren’t always aligned with those of their clients. He realized there was a better way to advocate for clients and get the deal done.


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