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November 16, 2017

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A Bittersweet Sale

February 27, 2017

11 years ago, I was afforded the opportunity to work for Mr. Jerry Vogel, and the assignment was leasing 7,280 sf of warehouse space. What I did not know at the time was that in the next 11 years, I would lease the entire 60,000 square foot complex 3 times. Nor did I have any idea what kind of relationship I would develop with Jerry, his family, and Mr. Earl Leonard. These relationships are something that I will carry with me for the rest of my life. Over time, we discussed the sale of the building many times, but never really got any traction. However, the conversation we had in 2015 was much different. With the recent passing of Mr. Earl Leonard, who had worked on the property well before Jerry purchased it in 1978, the motivation for this disposition had changed. 

 

 

I have spent countless hours showing the spaces, drafting proposals, working deals and yes, I have collected several fees for doing such. However, that is not what I will remember about 800-830 Distribution Drive. What I will remember is the countless hours on the phone with Jerry discussing anything except for the deals we were working on, and the numerous times he called me by the wrong name (Chuck Pusateri). I will also remember how my showings would take two hour; fifteen minutes to actually show the building then the rest of the time to sit with Earl and discuss everything under the sun.

 

After 18 months, three different prospective buyers, and many more conversations with Jerry and his family, we finally closed on the sale of 800-830 Distribution Drive. It was a great accomplishment for our team. But this sale will always be a little different than others, a little bittersweet. Over time I may forget the sale per square foot price of the building, the number of docks it had, or the color of the restrooms, but I will never forget Jerry and Earl.

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