Burr & Temkin continually refines and expands its brokerage services to meet the evolving needs of its clients and the market.
Since the 1990’s, Burr & Temkin has successfully valued and created liquidity for clients through sales, sale and leaseback transactions, online and live auctions, package liquidations, and bankruptcy liquidations. We have managed more major transportation package sales and bankruptcy liquidations than any other specialized transportation real estate brokerage firm.
Burr & Temkin is often called upon for answers to value related issues such as, what is the value of a portfolio, or how can a portfolio be restructured to maximize value. We have also acted as an independent party by assisting with setting sale values and serving as an expert witness. Burr & Temkin’s extensive database of transaction data and market knowledge provides our clients with a sound basis for our value-related expertise.
Burr & Temkin has also created cash flow for clients through brokering sale and leaseback transactions and portfolio dispositions. We’ve successfully handled the largest single sale and leaseback transportation property portfolio of 115 properties. Burr & Temkin has also successfully marketed property portfolios ranging from 14 -140 properties.
In instances where our clients want to avoid a longer marketing process, we have strategically marketed properties for a fixed period culminating in an online auction. In one instance we combined properties from several clients and were able close on, six of 14 challenging properties above their target price within three months, with the remaining properties being sold within six months at or above their target prices.
Burr & Temkin has also been the firm of choice for single client portfolio dispositions. Our past package offerings include:
272 properties totaling $688M sold for YRC from 2004 to 2012 at an estimated 107.5% of FMV;
- 14 properties sold for Vitran in 2011;
- 42 properties sold for Con-Way Freight from 2008-2009
- 14 properties sold for R&L Investments
Multiple bankruptcy courts have recognized Burr & Temkin as the exclusive broker for disposing real estate for various national and regional carriers. Our cumulative experience in trucking bankruptcy transactions surpasses any other brokerage house. Burr & Temkin has representing debtors, trustees, and buyers as experts on numerous bankruptcy portfolios including:
- Mid-States Express (Hartmann Properties LLC) - 9 properties
- Howard Delivery Service, Inc. - 3 properties
- Nations Way Transport - 22 properties
- Merchants Trucking - 49 properties
- Willig Freight Lines - 9 properties
- Brown Transport - 37 properties
- American Carriers, Inc. (Smith's Transfer Corporation) - 60+ properties
- Burlington Northern Transport/Santa Fe Trail Transportation Company - 12 properties
Economic and political trends shape the real estate and transportation industries often creating dramatic fluctuations in operational needs and real estate pricing and availability. As part of our listing process, our brokers analyze market data and complete an opinion of value for your property. Each opinion of value weighs important location, physical, and functional factors and compares those
with competing properties. We combine our specialized knowledge with pertinent information and accepted valuation theory to provide you with timely, confidential market analysis and valuation information allowing you to make strategic, well-informed real estate decisions.
A national pension fund contacted us to assist with the sale of a Detroit area concrete batch plant they had a security interest in. This client viewed Burr & Temkin’s real estate expertise as a valuable asset, and thought the facility’s parking area and shop space might be useful for a transportation company.
A concrete batch plant is a specialized product with a limited user segment. Upon inspecting the facility and meeting the owner and former operator, we discovered that the security interest included all of the equipment and supplies from the former business including: silos, concrete additives, computerized mixing systems, cement trucks, conveyors, water heating systems, a front end loader, facility maintenance equipment, vehicle repair equipment and parts, and office equipment and supplies. Using our extensive real estate and business experience, we suggested a multi-faceted approach to sell these assets in the fastest and highest grossing manner possible.
Burr & Temkin marketed the property and equipment as a whole to see if there were any concrete businesses looking to expand or start-up. We soon discovered limited interest due, in part, to the recession and extensive time the plant and equipment had been inactive.
Additionally, our marketing revealed an active used concrete-equipment market. We researched the equipment values, put together a detailed equipment marketing piece, and advertised in concrete publications. After garnering a large response, we worked with a company to auction off the equipment in a live auction and sold off all the surplus equipment, including the silos and conveyor systems, remodeling the building to enclose the areas formerly occupied by the silos and mixing systems.
Recognizing the property’s heavy industrial zoning, truck shop, and large paved and fenced yard would be a good fit for many transportation user, we targeted local, regional and national transportation users. Our approach worked as we ended up selling the main property as well as the nearby three acre lot.
Burr & Temkin worked diligently, finding effective solutions for liquidating, not only the property, but also vehicles, equipment and other personal property. Our team’s persistence, unconventional strategies, negotiation skills, and industrial real estate experience resulted in a successful liquidation for both the client’s security interest and the former operator, achieving all of their respective liquidation goals.