Broker of the Month: Attivissimo of Greiner-Maltz of Long Island utilizes "Firstknock Process" to close deals in 2013

Tom Attivissimo, CCIM, of Greiner-Maltz of Long Island had an unique process in closing deals during 2013. The "Firstknock Process" helps the buyer and seller save time, increase business, increase efficiency, increase business profitability, improve their reputation in the business community and more. Here are a few success stories: Success story one: Selling a 28,500 s/f R & D facility in Hauppauge. This highly specialized building was suited for few users. In an already difficult market a step in his "Firstknock Process" called the "Target Market Approach" was necessary to find the right fit for 55 Cabot Court. In comes KLD of Huntington, (with their representative Ralph Perna of Newmark, Knight, Frank), an engineering firm that required a fully air-conditioned R & D facility and 55 Cabot Court, Hauppauge was just that facility. There was little renovation needed for their use. After spending a few meetings in the local diner a deal was crafted that both the seller and buyer could live with. Both parties benefited from the process of "Target Marketing," a critical step in the real estate process. The value of the property was preserved; because the right purchaser was found and the building would have otherwise been gutted of all its office space which would have cost the owner tens of thousands of dollars out of pocket and would have reduced the value. The purchaser wins because the building was like a ready to wear suit off the rack with little alterations and minimal move in expense. In addition to using the "Target Market Approach" of the "Firstknock Process," another step in the process called "Game On" was used to address the time constraint and have the contract signed in the short order of two weeks. There was another buyer and the seller did not want to lose him until he knew he had a better, more profitable deal. As a result of the successful execution of the "Firstknock Process," KLD is now running a more efficient and profitable business. Success story two: A troubled 100,000 s/f industrial building in Central Islip. This facility had high taxes and needed the right user for the building. During the "Marketing Process" Attivissimo was able to stabilize the asset with a short-term tenant with flexible terms while he went to market searching for the best fit for the building, 1150 Motor Pwy., Central Islip which needed a manufacturer that would create new jobs in the town of Central Islip and conversely reduce the taxes. As a result of executing the "Target Market" and "Market Blast" steps of the "Firstknock Process" a best fit for 1150 Motor Pwy. was realized when Autonomic Plastics (API) came along with their representative, Doug Omstrom of Jones Lang LaSalle. As a result API was able to consolidate a plant from North Carolina and Westbury, N.Y. Putting both operations under one roof would made the company more efficient and profitable which are all beneficial by-products of successfully executing the "Firstknock Process." Having identified the best opportunity for the seller, the next step in the process is "Game On." This step is where a deal is negotiated to include all the mile stones of both the buyer and the seller, ensuring a successful closing. Working with the Suffolk County IDA, Anthony Minetta and the Central Islip Economic Development Agency, Bill Mannix, the real estate taxes as well as other economy developments benefits helped to seal the deal. All incorporated in the contract as per the "Game On" step. Success story three: 19 Harbor Park Dr., Port Washington. To further demonstrate the benefits of the "Firstknock Process," a cosmetic company from Queens, after unsuccessfully searching for warehouse space in the Queens market found. As a result of the "Market Blast" which gave 19 Harbor Park Dr. a constant penetration and exposure in the market. Consistently adhering to the process made it possible for the buyer and the seller to find each other and complete an $8 million sale transaction including a complete office renovation. Being both the listing and procuring broker, Attivissimo crafted the "Game On" step for both buyer and seller that enabled both to achieve their maximum financial benefits. The seller has now monetized his cash strapped company and he is now able to reposition his company for more profitable markets. The buyer was able to find the best building in an area he did not originally consider. Success story four: 1800 Ocean Ave., Ronkonkoma. There are times when the search for an industrial facility requires patience and persistence. When an electronics manufacturer could not expand and grows its product line it was time to consider a move. They were losing business and turning away orders because they were over capacity in their current location. Their unique requirement was a facility that had a future expansion for an $80-$100 million target revenue; and, making multiple moves over the next 5-10 years would be cost prohibitive. Parking was also a critical factor, it was more demanding than the typical industrial parking allowance. These special criteria made the site selection process a challenge. Using Firstknock's site selection step "Refining Your Needs" Attivissimo was able to identify 1800 Ocean Ave., Ronkonkoma. Together with Leo Farrell of Coldwell Banker, who represented the seller, Attivissimo was able to craft a deal using the "Last Mile" step of the "Firstknock Process" that met the special requirements. This 68,000 s/f industrial facility had expansion and extra parking. The electronic manufacturer had a specialized manufacturing requirement that needs clean rooms for production, with the help of Bill Mannix, Town of Islip Economic Development, Attivissimo was able to coach the buyer in procuring a real estate abatement and sales tax abatement for the $7.7 million transaction which included renovations for their special use. Success story five: 250 Duffy Ave., Hicksville. A specialty manufacturer that needed to consolidate his business. Because of the efficiency of using the real estate process more deals are able to be transacted. To close out 2013 with another successful transaction using the "Site Selection Process" is the consolidation to expand a niche market manufactured in Nassau County. The manufacturer was in four buildings and employed 280 people on three shifts. Manufacturing in four buildings is inefficient for the operation which increases per unit cost of each component produced. The consolidation was imperative in order to increase profitability, efficiency and eliminate duplication of departments. Failure to execute a successful move under one roof would cost the client millions in lost opportunity. They were in 160,000 s/f, but with an operational analysis it was found that there was a duplication of personnel and underutilization of machines, this resulted in personnel reduction of 55 people and an extra overall foot print of 60,000 s/f. Using the "Firstknock Process" proprietary listing data base of properties and market knowledge, Attivissimo was able to identify a 100,000 s/f industrial facility on an oversized lot with the required 225 car parking in Hicksville at 250 Duffy Ave. The step in the process called "Refining Your Needs" revealed that out of a potential of ten properties one really worked that would accommodate 20,000 office and over 225-car parking. The flawless execution of this step quickly identifies the best property. Using the services of Peter Elkin, AIA architect, the buyer felt confident that the site will accommodate their extreme use off office and parking. In addition it allowed the executive team to now focus their efforts in planning to consolidate the manufacturing operation in the new facility instead of wasting time looking at buildings that will not work. When clients miss this step of "Refining Your Needs" they will waste time on the wrong building. In this case that meant going to the town with Elkin along with plans to determine the feasibility of the site (all before they can make an offer. This step costs thousands of dollars, weeks and possibly months and often times the deal) crafting an economic development package with Nassau County's Nick Terzulli, this $16 million transaction allowed the manufacturing company to stay on Long Island and stay competitive in the rough and tumble New York manufacturing climate. Using and staying with the "Firstknock Process" they accomplished this in just a few months and the seller needed to close by December 31st, 2013 or faced with a gains tax of over $1.5 million. Both the buyer and seller adhering to the process were able to close as per the "time is of the essence" clause of the contract. Without execution of the process this would have cost the seller $1.5-$2 million and the buyer would have not been able to consolidate his company that would make it profitable and increased revenue capabilities that would translate into tens of millions. These five success stories show you how the buyer and sellers' key issue are addressed by using Attivissimo's "Firstknock Process." The process increased business capabilities, increased efficiency, increased business profitability, and improved their reputation in the business community. Looking at these case studies you can see how these clients benefited. The seller had a low cost of sale by getting the best candidate for the property. A quick sale once the best client was identified and a liquid event. The benefits for the buyer, they find the best property for their needs not wasting time on the wrong site, improved reputation, improved efficiency, improved bottom line profits and increased revenue capacity.