Haw River Development Efforts
Development efforts continue in the well positioned, small town of Haw River. The Granite Mill is such a beautiful asset with incredible bones (1840 - 1880 construction).
https://www.thetimesnews.com/news/20160626/abandoned-mills-are-focus-of-haw-rivers-revitalization
CEO at Dowell Commercial Realty
7 å¹´Recent Press at https://www.bizjournals.com/triad/news/2017/05/01/historic-triad-mill-under-contract-brewery-among.html OR https://www.thetimesnews.com/news/20170430/granite-mill-under-contract. The TBJ reported this incorrectly as dating back to the 1940s. This mill dates back to the 1840's.
Southern Cross Management, Inc. Middle Market Capital and Advisory
8 å¹´Sean gets the job done!
Southern Cross Management, Inc. Middle Market Capital and Advisory
8 å¹´Sean gets the job done!
CEO at Dowell Commercial Realty
8 å¹´What a case study property. I received this 550,000+ SF asset over five years ago. In this 100% vacant property, we did a month-month lease with a 3PL to raise the capital to improve the property. Next, we marketed an improved subdivided portion of the property, which sold well above what the owners paid for the property overall. We then used the proceeds of this sale to formally subdivide this asset and further entitle it (rezoning, historic paperwork). Despite a "year off" (due to NC no longer supporting historic rehab with tax credits), we now have this asset under contract to an established historic developer. While this also will take time, I am so excited to see this wonderful 1840's - 1880's building continuing to move forward. I can't wait for the future brisk winter day when I can have coffee on the river in a "new" historic downtown area. I will surely be thinking "what a journey". In commercial real estate, we have diligence and patience or we wash out. Like this building, I am glad to be here long term and look forward to the years to come.