Central Rental Assesses Real Estate Footprint as Owner Approaches Retirement
Services Provided to Central Rental:
- Building Valuation
- Financial and Cost/Benefit Analysis
- Strategy Development and Evaluation
Butch Timo, owner of Central Rental in Fridley, MN, had owned an equipment rental business for decades, operating it with his sons. As he neared retirement, he enlisted the help of John Young, vice president – real estate advisory, to understand the real estate value. Given that the equipment and building were owned as one company, he wanted to consider whether to separate them or keep them together to make a sale more appealing to potential buyers.
After the evaluation and study of alternatives, Timo decided the best option for him was to sell the business together with the real estate to a company that would continue to operate a rental equipment business. While Forte did not earn a fee for the strategy development and valuation, Forte did help that business achieve its business goal.
“We didn’t close a transaction, but we did help Butch come to the right conclusion for his business and his family, which is our goal.”
John Young, CCIM | Vice President Forte Real Estate Partners
Real Estate Advisory
John Young, CCIM
Vice President | Real Estate Advisory
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