Category Archives: Land Market

REO Services Case Study: Storage and Retail Properties

The Property:

Wells Fargo foreclosed on six single-story metal and masonry storage buildings in Jesup, Georgia. The buildings were located on two separate properties and consisted of 106 non-climate controlled units and 78 climate controlled units. The buildings were in poor condition with outdated inspections, non-working A/C units and no local daily management. Furthermore, there were no available tenant records as a result of the former owner removing all such records at time of foreclosure.

Additionally, Wells Fargo foreclosed on a 3,000 SF retail building with two active tenants. The property lacked security, and management.

What We Did: 

McWhirter Realty Partners was engaged to manage, market and sell in a very depressed economic environment. The company immediately sent a property manager to Jesup to facilitate updating inspections, contracting for the new AC units and accessing the management system to find the current tenants. Once the tenants were notified of the change of the property owner and the property was repaired, McWhirter Realty Partners engaged a local broker with REO storage experience to maintain the daily management. Both properties were successfully sold.

Northwest Georgia Land Market Offers Opportunity

Recreational properties in Georgia are attractive to outdoor enthusiasts and investors alike. Northwest Georgia in particular draws interest from both inside and outside the state with its proximity to metropolitan areas in Alabama and Tennessee. Often times these properties can help pay for themselves depending on the resources available for farming and timber.

McWhirter Realty Partners is currently offering a 195 acre tract in Walker County just outside of the Chattahoochee National Forest. It’s conveniently located just 1.5 hours from Atlanta and is within an hour of Chattanooga.  The property offers a mixture of pastures, timber and streams with access to the headwaters of the Chattooga River.

A desirable location for both families and businesses, Walker County also benefits from the tourist industry by being home to the Chickamauga Battlefield National Park and Rock City Gardens at Lookout Mountain.

McWhirter Realty Partners continues to follow trends, challenges and opportunities in the recreational land market.  If you have questions about this property or other land available, please visit www.mcwrealty.com.aerial