There is probably no other charity more recognizable and impactful than the Salvation Army. Started in London in 1852 by William Booth preaching to the poor, the homeless, the hungry and the destitute, the story of the Salvation Army is one of pure benevolence to the most vulnerable throughout the world.
Now operating in over 125 countries and symbolized by their red kettles and “bell ringers” during the holidays, the Salvation is a huge altruistic organization addressing a multitude of societal ills: addiction; disaster relief; homelessness; human trafficking; job training; poverty and more. They had operated several programs including a drug and alcohol center in the close-in eastside area for over 80 years out of some old dilapidated buildings that had long ago become obsolete and were being replaced by a new, $20 million campus by the airport.
Served by their Western Region out of Los Angles, they interviewed multiple brokers but chose Cascade Commercial to assist in the disposition of these properties. Two successful sales were accomplished. One building was sold to Venerable Properties for redevelopment and the larger two block parcel was, after a bidding process, sold to a large, affordable housing development company from San Francisco above appraised price.
“Todd was extremely helpful in getting these properties sold. He knew the market and valuations well and was able to position these older facilities to achieve excellent pricing with qualified buyers. With some land use questions and some environmental concerns, he was able to provide great advice and help us navigate through a complex due diligence process to get to closing”, says Property Specialist Kaye Patterson.