DOWNTOWN OFFICE SOLD

SALE OF OFFICE BUILDING 716 PEARL ST.

IN DOWNTOWN JACKSONVILLE by

HENRY ROGERS, CCIM, ALC, and EDDIE SEGARS

At 10:30 on the Tuesday after Christmas, a call came in that a prospect who had been negotiating for an office at the southwest corner of Union and Pearl Streets for months would buy it at $122,500, substantially below the list price. The kicker was that he would have a one day inspection period, Wednesday, and close on Friday with cash.

Fortunately, the owner of 30 years answered her phone and said she would consider it.  A return call came back in three minutes, “YES !”

The buyer, Kevin S. Sanders, an attorney, pushed his favorite title insurance company for a quick title binder.  Old surveys were available and used for the closing.  A contractor gave cost estimates of repairing damage from Hurricane Matthew.  Oil tanks of a service station had been removed and the seller still had receipts that were accepted for environmental questions.

At 10:00 am Friday, buyer, seller and brokers sat around the table in the title company office.  Instead of a typical time of 120 days to close a commercial sale, it took 96 hours.  

When you need quick service, call Henry Rogers, CCIM, ALC, at 904-421-8537, or Eddie Segars at 904-421-8559, both of Coldwell Banker Commercial Benchmark.