Swisher Commercial Realty, the company that helped the City of Saline sell land for three major developments in the last year, will continue to market the city’s available commercial and industrial properties.
The city has one remaining Michigan Avenue property for sale and four parcels in its industrial parks.
The contract calls for Swisher to receive an eight percent commission when it is the sole broker for a deal. When there are two brokers on a deal, the total commission will be 10 percent, with each broker receiving half.
Tony Caprarese, associate broker and VP for Swisher Commercial, is a resident of Saline and will continue to represent the city. He said he last year was a successful year for the City of Saline. Using Swisher, the city sold properties for the Zippy Auto Wash, the Best Western Premier Hotel and the Maple Oaks residential development.
“This year was extremely productive,” Caprarese said.
He credited the city for having foresight to attract buyers and the flexibility to work with them. Caprarese said rezoning Sauk Trail Business Park properties on Michigan Avenue from light industrial to SPA-1 was critical to success.
“SPA-1 zoning means the development can be essentially whatever the city chooses. That opened the door for a lot of potential,” Caprarese said. “And it brought forward individuals with the wherewithal to bring projects forward.”
Caprarese talked about the potential for selling the remaining properties.
Lot 20a is a 6.4-acre parcel in the Sauk Trail Business Park. It has 221 feet of frontage on Michigan Avenue between the Zippy Auto Wash being constructed and The Oaks Shopping Plaza. It is zone SPA-1, which gives the city and potential buyer flexibility for development. The asking price is $90,000 to $125,000 per acre. Caprarese said this was the most marketable of the city properties. He said the property has drawn interest. This property could fit see
There are also three properties zoned for industrial. Lot 13 in the Donald Shelton Industrial Park is located on the south side of Woodland Drive, south of Industrial Drive. The 3.25-acre site with 411 feet of frontage on Woodland Drive is being priced at $90,000 an acre.
Lot 14 is located along the curve of Industrial Drive, immediately east of the railroad tracks. The 8.4 acre parcel is priced at $44,244 per acre. Only 2.6 acres are buildable.
Lot 5 in the EF Redies Park is located at the end of Tefft Court. A little more than half of the 6.1 acre site is buildable. It’s been priced at $75,245 per acre.
The city is also selling a 3.6 acre site at the end of Beach Court. It’s zoned for light industrial. The asking price is $324,000.
Council voted 6-0 to approve the contract with Swisher. It expires in May of 2019.