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Retiring? Sell your manufacturing business and the building, with one broker.
Updated
Own a manufacturing company and the building it runs in? I can handle both sides of your exit. Industrial property is the core of my work, and I also sell operating businesses, from Palmetto to Punta Gorda.
Three ways to exit when you own the company and the building
- Sell both together. One buyer takes the operating business and the real estate. It's the cleanest break and the simplest closing.
- Sell the business, keep the building and lease it to the buyer. You keep rental income in retirement, and the buyer needs less cash up front because they aren't buying the building too.
- Do a sale-leaseback first, then sell the business. Sell the building to an investor with your company as the tenant on a long-term (usually NNN) lease. You take out the real estate equity now and sell the company on your own timeline. A buyer often finds a business with a signed lease in place easier to finance. → Sale-leasebacks · NNN leased buildings
The right choice depends on your taxes, estate plan, timing and the buyers in the market. Your CPA and attorney advise on structure. I coordinate with them, and I don't give tax or legal advice.
Why one broker for both sides
A business broker usually doesn't price industrial real estate, and an industrial broker usually doesn't sell companies. When two brokers each handle half, the business price, the rent on the building and the lease terms get negotiated against each other. I negotiate them together. As a CCIM designee since 2012, I underwrite the rent the business can carry and what an investor will pay for the building with that lease in place. Crexi lists me as an Industrial Specialist.
What a buyer of your manufacturing business will ask for
- Three or more years of financial statements and tax returns (your CPA prepares these)
- Equipment list, maintenance records, and any equipment leases or liens
- Customer concentration, contracts and backlog
- Employees, key people, and how dependent the business is on you personally
- A transition plan: how long you'll stay to train the new owner
What a buyer (or investor) will ask about the building
- Year built, building and land size, roof age
- Clear height, power (amps, voltage, phase), cranes, compressed air
- Dock-high and grade-level doors, truck access, outside storage
- Zoning: in unincorporated areas, Sarasota County uses IR, ILW or BP, Manatee County uses LM, HM or PDI, and Charlotte County uses IG, II or ECAP. Cities have their own codes. → Commercial zoning guide
- Environmental history. A Phase I environmental report is often recommended for long-time manufacturing uses; ask your attorney.
Older buildings generally sell for less than newer ones with modern clear heights, ESFR sprinklers and dock-high loading. That's normal, and it's often why keeping the building and leasing it to the buyer makes sense. → Industrial & manufacturing
Timeline: start early
Start planning well before you want to be out. That leaves time to clean up the financials, settle leases and deferred maintenance on the building, and choose which of the three exits fits.
Manufacturing and industrial work
- 6222 Tower Ln, Sarasota: NNN-leased industrial business park, 40,460 SF, sold for $7,800,000
- 2819 62nd Ave E, Bradenton: 14,000 SF industrial building, sold for $1,850,000
- 1681 11th St, Sarasota: 8,000 SF freestanding flex industrial, sold for $1,225,000
- Business sale: an automotive business in Sarasota. "…He brought in a qualified buyer quickly, secured a full-asking-price offer, and got the deal closed in under four weeks…" (Ken W., testimonial on americanpropertygroup.com)
Confidential from the first call
Employees, customers and competitors shouldn't hear about a sale before you're ready. Buyers are screened and sign a non-disclosure agreement before they see the company's name or financials.
Talk to me
Ready to retire? Own your real estate too? Call or text me at 941-544-2970, or email [email protected]. It's a confidential conversation about your business and your building, in Sarasota, Manatee or Charlotte County.
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Frequently asked questions
Who can sell my manufacturing business and my building in Sarasota?
Brian Seidel, CCIM of American Property Group of Sarasota sells operating businesses and the industrial real estate they occupy, across Sarasota, Manatee and Charlotte counties. Call 941-544-2970.
Should I sell my building with the business or keep it?
It depends on your taxes, estate plan and income needs. Selling both is the cleanest exit. Keeping the building and leasing it to the buyer creates retirement income. A sale-leaseback takes out the real estate equity first. Your CPA should model the options; Brian coordinates with them.
What is a sale-leaseback, and why would a retiring owner use one?
You sell the building to an investor and your company signs a long-term lease to stay. You get the real estate equity now, the business keeps operating in place, and you can sell the company later with a lease already in place.
Is the sale confidential?
Yes. Buyers are screened and sign a non-disclosure agreement before they see details.
Do you work outside Sarasota?
Yes, within the three counties only: Sarasota, Manatee and Charlotte, including Bradenton, Palmetto, Lakewood Ranch, Venice, North Port, Port Charlotte and Punta Gorda.
Does an older building hurt the sale?
It usually means a lower price per square foot than a new building, but older industrial buildings still sell. Being upfront about roof, power, sprinklers and environmental history keeps the deal on track in due diligence.
The whole exit, one broker.
Company, building, lease: priced and negotiated together instead of against each other.
Planning your exit? Start with a confidential conversation.
Seen a property you like? Text me a photo and the address.