Project Overview:

Voit Real Estate Services was engaged to provide consulting support with Ropak in order to “sell” an option to purchase. Upon review of the lease, Voit recommended double escrowing the building, write a new 5 year lease for the entire building and sell it to an investor.

One other challenge was that additional land with the Property had hazardous materials under it that required mitigation. Voit, consulting with some of its Strategic Alliance Partners, was able to achieve a “No Further Action Notice” from the County of Los Angeles which removed a huge investment hurdle and increased the value.

The Property sold for more than $13,000,000 with an option price of $6,300,000. A profit of over $6,000,000.

So pleased with the work provided, Voit was engaged to sublease a facility in Vancouver, Canada; sell the existing corporate headquarters and lease 2 warehouse locations.

Challenge:

Exercise option to purchase and double escrow to an investor while eliminating Hazardous Materials contamination.

Result:

Ropak’s initial projection of $1,000,000 profit was increased to more than $6,000,000