A local lumber family that owned a large empty industrial property in North Portland had a problem. Their broker could not get a deal done. The recession was still freshly in the rear-view mirror, the property had some “issues”, and financing for such a deal would be difficult. Having worked with Todd years ago on the property where he helped them find a tenant, they asked him to help them sell their challenged property.
Shortly after listing the property, along with a program of targeting potential user/buyers and dedicated outreach to the brokerage community, a deal was struck with a large landscape company. Todd worked creatively with the owners, buyer and other broker to craft an arrangement of a short-term lease to get the company committed and operational in the site, and get the owners cash flow while allowing the interested tenant time to put together a complex financing package. This was facilitated by a tightly constructed option-to-purchase agreement where the company would buy the building, which they accomplished in 2015 for over $4 million.
Marcia Blasen, one of the owners of the property, volunteered after the deal that, “in the process with working with Todd, we discovered that he is creative, flexible and has great contacts for what we needed. All of these things were important as we worked to find the “right” transaction for us. Though we met with many potential brokerage firms, who were telling us what we wanted to hear, he was honest and refreshing and not afraid to “tell it like it is”. He helped immensely to get our family’s goals met on a very difficult property assignment”.