Derbes Falgoust Commercial Real Estate
North Merchant Office Warehouse Sells Quickly
Grey Hammett, Managing Broker for Mike Falgoust and associates, said that 6951 North Merchant Dr. next to Industriplex in Commerce South Subdivision, sold yesterday for $ 367,000 dollars. Hammett said “ There is nothing for sale in the Industriplex or Cloverland area under 5,000 sq ft. With today’s low interest rates it is cheaper to own than rent” The building has 2,600 sq ft of office and 1,800 sq ft of warehouse “ this ratio of office / warehouse is rare in this area. The property has 1 large conference room, reception area, 11, offcices,2 baths,11 parking places, 30x40 secured yard and favored M-1 zoning . The building sold only after being on the market for sale for two weeks. “ We are finding it harder and harder to find buildable dirt and when we do its $ 11 per ft to grade with utilities. The seller was BPJK Ventures llc and the buyer was KCE Properties llc. The seller had the building in commerce and is seeking a replacement property. This was an all cash deal so a 1031 would not work in this case. Hammett represented both sides in this transactions.