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Updated over 5 years ago,
Multiple properties/Multiple owners Strategies
So; I'm looking at expansion of a current business model and am looking around locally for vacant/underutilized commercial properties. I have a certain size in mind, and a certain geographic area. Most of the possibilities do not meet my size requirements unless I "bundle" multiple adjacent properties. What are some general strategies for approaching these situations? They are all off market properties.
For example; Three adjacent properties that might meet my needs, A, B, and C. "C" is small, but desirable purely because it has road frontage. "A" is the bulk of what I want, empty lot, easily developable. "B" just connects the two. "A" is brownfield owned by an out of town investor, "B" is a small underutilized strip mall-ish property owned by a local realtor. "C" is a large empty lot owned by a local family type operation; well established, connected, and owns a lot of similar property.
In this example, I am looking for basic strategies to approach all three parties and get the best deal, without tipping my hand that I need to have all three to make it work. Do I need to make a deal on all three, closing simultaneously? Non disclosure agreements? Suppressed sale? Would I want to utilize an out of area realtor? Third party intermediary?
This is an actual scenario, but I've identified several other opportunities that would require similar strategies.
Any input is appreciated.