Customer Problem / Need
The customer wanted to consolidate all equipment from two manufacturing facilities into one - within the same city.
In order to lean in to a rapidly changing real estate market, the customer needed to consolidate equipment quickly, selling any surplus.
Limited customer resources on site, and an aggressive exit timeline made data collection and write-ups for assets difficult. COVID protocols were in place which exceeded city and state requirements which further impacted access for our team.
Chain performed a site visit to the facility (complying with all COVID requirements) and gathered all required data to conduct valuations and inspections prior to marketing the sale. All pictures, videos and condition reports were captured before meeting again with the customer (remotely) to strategize on how we would maximize proceeds, whilst also allowing the customer to meet their goal of a quick exit of the facility, which represented a significant cost.
The customer had been conducting repairs on aircraft engines and due to COVID they were consolidating their manufacturing footprint.
The manufacturing facility serviced domestic and international markets and was located in McAllen, TX.
Chain conducted two auction sales, with the vast majority of lots sold.
Total Plant Area: Approximately 100,000 sq.ft.
Expense Budget: $80,000
$690,000 gross proceeds for the customer
Exceeded customers’expectations and had all items removed in a timely manner at no cost to the customer