CHALLENGE

The year 2020 was one of reflection on priorities and direction for the private sector as well as non-profits. KANDU Industries Inc, a local organization that provides opportunities to people with disabilities and disadvantages, was no exception. KANDU’s board of directors and its executive director determined that a focus on its core mission of serving those community members should be its guiding light. Underutilized assets would need to be sold with proceeds targeted on that core mission.

ACTION

Board members and Executive Director Kathy Hansen consulted with the Coldwell Banker Commercial McGuire Mears & Associates team of Bill Mears and Adam Shultz about the overall commercial real estate market and the value of its two large event-space properties: the Armory at 10 S High St and the Pontiac Convention Center at 2809 N Pontiac Dr. After Mears and Shultz researched the properties and gathered comparable sales in the market, KANDU approved the implementation of a marketing strategy to sell the buildings

RESULTS

• The Armory under contract in 117 days and and closed 106 days later.
• The Pontiac Convention Center under contract in 68 days and closed 163 days later.
  $2,125,000 generated by the sales.
• In February, KANDU Industries announced it new growth strategy, a best-of-life client services program facility. Key to this announcement was the disposition of two event facilities located in Janesville, Wisconsin.

"The expansion project is the next logical step in KANDU’s ability to execute on its mission at the highest level. Bill and Adam proved to be important partners in helping us elevate the services we offer to an industry-best level so people in our community with disabilities are offered every opportunity to live more independent and fulfilling lives" - KANDU Executive Director, Kathy Hansen