Upload
davidson-college
View
577
Download
0
Embed Size (px)
Citation preview
210 Delburg Street
CHRONOLOGY:
• Original structure built in 1920 by Davidson Cotton Company.• Several additions to the original over time.• 23,305 square feet on 1.668 acres.
• Most recent owner was Bridgeport Fabrics Inc. Bridgeport operated from 1963 to 2010. Bridgeport approached Davidson in July 2013.
• Conducted Environmental survey phase 1 and 2 in early 2014.
• Purchased by Davidson in October 2014 for $730,000.($20,000 held in escrow for execution of Brownfield Agreement)
• Began Brownfield process in May 2015. Estimated conclusion June 2016.
210 Delburg Street
VALUE:
Stage 1: Purchase
Appraisal = $720,000
Stage 2: As-is, with Brownfield Execution
Market Evaluation = $980,000
Stage 3: Shell Renovation Potential
Market Evaluation = $4.66MM - $5.2MM
Purchase = $730,000
October 2014 June 2016
Purchase = $730,000Environmental = $20,000Upfit = $3,250,000
Purchase = $730,000Environmental = $20,000