Jim Abbott and Danny Reaume from Realty Advisory Group, Inc. represented both the seller and the buyer in this off-market transaction. RAGI had a listing agreement with the management team, IDS, to lease the property. During the leasing process, ownership asked RAGI to investigate selling to investors as there were many capital investments needed to the building. IDS and RAGI worked together to collect offers from many interested investors off-market.
Rexford stood out among all competition and was able to purchase the only 10+ unit multi-tenant dock high building in Wilmington. Rexford is investing significant improvement dollars to renovate the 14 unit Multi-Tenant Industrial facility and plans to have units available November 2017, if not sooner.
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