1610/1630 Kleppe Ave

Challenge

The Community Foundation, a local non-profit charitable organization, was gifted two parcels of industrial land in the Sparks submarket and was looking to facilitate a sale. The property featured two leased service/flex buildings and three acres of undeveloped land currently leased on a month-to-month basis for trailer storage. The Community Fund was hoping to maximize the sale price to help support community outreach. 

Action

The DCG Industrial team marketed the property as an attractive infill development opportunity, highlighting its two leased service/flex buildings and three acres of undeveloped land with potential for redevelopment. Through the team's robust network connections with local and national brokers, we conducted a bid process resulting in 14 offers. 

Result

The property sold at 17.5% over the portfolio's asking price, greatly benefiting the Community Foundation. This sale provided substantial funding for their community outreach programs, allowing them to expand their charitable work in the local area. 

Testimonial

"DCG did an outstanding job of maximizing net proceeds while performing a thorough listing process on behalf of our ownership group. They went the extra mile to make sure everything went smoothly and according to plan. This sale will exponentially increase available funding for foster youth scholarships in our region. The property was gifted to the Foundation through a bequest to fund scholarships for foster youth. I'm optimistic that this sale will increase the available funding far beyond the donor's greatest dreams." 

- Chris Askin, CEO of Community Foundation