Monthly Archives: December 2015

REO Services Case Study: Industrial and Manufacturing Facility

The Property: 

BB&T foreclosed on a single tenant office warehouse building containing 125,000 square feet. The building was used by the prior owner as a fabric manufacturing facility. Upon foreclosure, the former owner vacated and left its equipment, furniture, trash, cardboard, large industrial spools and other equipment that was used in manufacturing fabric.

What We Did:

McWhirter Realty Partners was engaged by BB&T to secure the building and to start the process of liquidation of the equipment, furniture and materials left by former owner. McWhirter Realty Partners obtained bids to make the immediate building repairs, including repairs necessary to bring the building into compliance. McWhirter Realty Partners then supervised the liquidation of the equipment, furniture and materials. Upon completion of this work, McWhirter Realty Partners began aggressively marketing the building for sale and subsequently sold the building to a user.