Like a game of chess, move and place
The beginning of the year closed one chapter and opened another for the Boone Area Chamber of Commerce (“chamber”). The leadership of the chamber went to one of their own members to assist them in the disposition of their downtown Boone location and to assist them in finding a new and improved location. For close to two decades, the chamber had always had a presence in downtown Boone. From the days on Howard Street, to the move to Courthouse King, the organization came to a realization that while downtown Boone had positive attributes, there were a number of negatives as well.
Courthouse King
The chamber, since 2011, had been part of a multi-unit office condominium project called Courthouse King. This project is adjacent to the Watauga County Courthouse and offered a Class A office solution to the chamber team. However, as part of visioning and being a customer-oriented organization, the chamber made a choice to dispose of the real estate. While traditional marketing efforts did not procure a buyer, a prospective buyer reached out in August 2021. James Milner, CCIM was able to quickly work with all the parties involved to reach an agreement on the terms and conditions. The paperwork was prepared and executed. A deal was struck and with an end of year closing looming, the search was on for a new home.
“The ideal purchaser of the commercial condominium was an attorney that needed close proximity to the courthouse. The condominium had originally been built out for an attorney’s office with a reception, offices and conference room. With an abundance of on-site parking, it was a great win-win for both parties” stated James Milner, CCIM, President & Owner of Appalachian Commercial Real Estate.
Greenway Commons
With little inventory and the clock ticking, a search was made for a number of options both for lease and for purchase that would work for the chamber. After reviewing sources, it was apparent that a lease would be more ideal for the chamber. James worked with the chamber leadership to pin point the space needs that the organization had. With a space size range, need for parking and budget, a number of options were presented and subsequently toured. The chamber decided to proceed with the available space at the Greenway Commons building on Greenway Road. James spent a few weeks negotiating back and forth through the letter of intent to arrive at terms and conditions that were suitable for both parties. The letter of intent was used as a basis to draw up and finalize the commercial lease agreement.
While Greenway Commons was originally constructed as a medical office building away from the medical district, it had an appropriate amount of available space on the main floor. The size was appropriate for the chamber’s needs however more importantly the space was a blank canvas. This allowed the chamber to work with design professionals to bring a vision to life.
After working through a number of lease revisions, the lease was officially signed in March. The design professionals worked through planning and permitting with the Town of Boone with construction to start in June of 2022 and completion of the work by the Fall.
“The Greenway Commons location is a perfect fit for the Boone Area Chamber of Commerce in many different ways. The space is an appropriate size where there is not going to be any wasted space. The location is ideal, being able to get to many areas of the Town of Boone easily, and there is access to parking areas that allow for visitors to come and go easily. I am grateful to David Jackson and the chamber leadership for allowing my firm to represent them in this transaction, obtaining a long-term lease that made sense for all involved is always the goal when working in lease transactions” stated Milner.
In their own words – David Jackson, President & CEO, Boone Area Chamber of Commerce
“We have enjoyed watching James Milner and the team at Appalachian Commercial Real Estate work for and on behalf of clients for years. When James called and informed us of the interest in our property, he was able to carefully navigate the details of the sale while knowing we still needed to be able to conduct business in an uninterrupted manner in our space. At the same time, James and his team went to work in helping us find a new location. Once we shared our vision for the space we desired, and the functions we hoped to be able to provide, ACRE was able to determine suitable spaces and made the process efficient. We did not waste time looking at sites that were never going to work for us. Instead, we look at a few locations and picked the perfect spot on the very first day of visits. James was our advocate during the lease generation process and thought of many things that simply would not have occurred to us to consider. I’ve heard him talk about the need for a broker in these types of transactions many times, and when he was doing that work on our behalf, it became clear the value they bring to the process. James and our landlord worked out the final details in a timely and respectful manner and we all share excitement in what the Boone Area Chamber of Commerce’s new home will soon become.”
Final thoughts
Is your organization considering a move or has a commercial real estate issue to be resolved? Feel free to contact James Milner, CCIM, President & Owner of Appalachian Commercial Real Estate to discuss and let us use our expertise and experience to help.
