Drawing on the Power of Cooperative Solutions

Challenge

A client approached Realtor® Cassie Wells in urgent need of a 70,000 square-foot warehouse space, located an hour away from Batesville, Arkansas. Given Batesville's significant size and population of 38,000, finding such a specific and large-scale space posed a considerable challenge.

Action

Despite an exhaustive search across various real estate platforms and a thorough exploration of the county, the desired property remained elusive. Cassie decided to collaborate with a partner, and together they engaged with local business owners, Chamber of Commerce officials, and elected representatives to explore alternative solutions.

It was through this expanded network that Cassie and her partner learned of a recent acquisition of a 120,000 square-foot warehouse by the University of Arkansas Community College at Batesville, which was being renovated to facilitate large equipment operation training.

Cassie proposed an innovative solution: Asking the school to lease 70,000 square feet of the space to her client. The arrangement would establish a mutually beneficial partnership that offered students practical, on-the-job training, while covering the cost of all renovations over a 10-year lease period.

Result

This transaction constitutes the perfect example of a successful private-public partnership. Cassie's client has benefited from a reduced leasing rate, while the college gained a lease agreement that helps finance the property's improvements. Moreover, this collaboration has provided the client with the opportunity to train and potentially recruit students., offering them invaluable hands-on experience in a real-world setting. It not only has addressed the client's immediate needs but also contributes significantly to the educational community, highlighting the power of innovative, cooperative solutions within commercial real estate.

Cassie Wells CCIM Executive Broker, Keller Williams Realty

501.993.1973 | cassie@cassiewells.com | cassiewells.com

12814 Cantrell Rd. Little Rock, AR 72223