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Remedy Medical

Remedy Medical

Size:

108,685 SF

Sector:

Medical/Office

Service:

Property Disposition

The Remedy to Four Difficult Medical Properties

Remedy Medical is the largest owner of healthcare properties in the United States, with over 600 locations. With existing broker relationships nationwide, Remedy Medical turned to Ten-X for a solution in selling four difficult properties.


  • Two of the properties were vacant and the other two properties would also soon be vacant with leases expiring within 12 months

  • Three of the properties had either ground or air rights leases, and extensive restrictive covenants that encumbered leasing and use

  • Three of the properties had Right of First Refusal and/or Right of First Offer provisions

  • All four properties were cash-flow negative


These significant obstacles scared buyers and brokers alike, which is why Ten-X and Remedy Medical partnered with BellCornerstone.

The BellCornerstone Approach

BellCornerstone began the approach by producing four custom 26-page offering memorandums and 672 custom direct mail postcards that were sent to target buyers in each market. Additionally, customized auction banners with QR codes were created and installed at each property. BellCornerstone then coordinated twelve open houses with local brokers, to create a sense of urgency and excitement around the properties. Parallel to these efforts, BellCornerstone’s marketing team dispatched multiple LoopNet CDX blasts and social media releases, while the telecommunications team made over 700 outbound calls and sent more than 1,100 emails to prospective buyers.

The Result

With a methodical and complete approach, the BellCornerstone team attracted 243 bidders to the auction site. Each of these bidders were individually qualified, and 30 of them registered. This created a competitive bidding environment, ultimately driving multiple offers for each property. One of the properties would go on to sell for 3x the reserve price!

Real Feedback. Real Results.

What Our Clients Say About Working with BellCornerstone.

At BellCornerstone, we know that our success is built on the success of our clients. That’s why we listen first, act fast, and work smart — delivering measurable results that speak for themselves. With over 40 years of experience, service across all 50 states and Canada, and an 83% client retention rate, we’re proud to be the trusted partner for industry leaders nationwide. But don’t just take our word for it — hear what our clients have to say.

Patrick Dorsey

Santa Fe New Mexican

Patrick Dorsey

Publisher

“I have worked with BellCornerstone on many projects since first meeting them in 2013. In those 10 plus years they have earned my total trust in assisting me with various real estate transactions across the country in many different markets. I came to think of them as my in-house real estate partner as we worked together to find space to lease, lease out existing space to third parties, repurpose space to maximize rental income or save expense, sell buildings and many other building and real estate related transactions. They have been great in not only executing on our needs, but becoming a trusted consultant in providing suggestions and alternatives to more efficiently manage our space and generate positive economic impact.”

John Mathew

Namekagon Newspaper Services

John Mathew

President

“BellCornerstone has been and continues to be, an outstanding partner for my clients and me. BellCornerstone is a no-nonsense, down-to-earth firm with a unique understanding of the commercial real estate market especially as it relates to the newspaper industry. Bell works only for its client in a specific market and does not represent competing interests. Our relationship over the past four years has been very mutually beneficial.”

Leonard Woolsey

Southern Newspapers

Leonard Woolsey

President

“BellCornerstone should be everyone’s first stop when making decisions about building inventory. Professional, knowledgeable and highly effective. Make the call.”

Steve McCauley

GateHouse Media

Steve McCauley

Facility Manager

"GateHouse engaged BellCornerstone as a vendor for the review of a single transaction in Florida. BellCornerstone's recommendation & creative solutions directly resulted in saving millions of dollars, reducing term, and right sizing our operation. BellCornerstone now represents our portfolio nationwide and is considered among our most trusted advisors."

Rod Mayette

TCGplayer

Rod Mayette

VP of Finance

"BellCornerstone's knowledge of the market and thorough analysis of our options, along with their expertise and guidance, enabled us to achieve all of our goals. They found us a property that wasn’t officially on the market in a building where space was not initially vacant. The cost-benefit analysis that BellCornerstone's unique approach provided to our company was tremendously valuable. As a result of BellCornerstone's work, we were able to commit more of our time and resources to growing our business and brand."

Joel Christopher

Knoxville News Sentinel

Joel Christopher

Executive Editor

“This is an ideal relationship for everyone. [The Buyer] gets a great location to expand his rapidly growing, locally based businesses, Knox News locks in a long-term deal for its production and office needs, and other businesses get an opportunity to lease in a location with tremendous access to downtown, the airport and the interstate system.”

Mark Davitt

ConServe

Mark Davitt

CEO & President

"It is a pleasure to deal with true professionals who deliver value, and Mark Bethmann is such a professional."

Heidi Wright

EO Media Group

Heidi Wright

CEO

“BellCornerstone is uniquely positioned to assess, market and sell under-utilized facilities in the newspaper industry. Their strategic approach and market analysis ensured that our property received maximum exposure and attracted serious interest. Such was the case with our Pendleton property which Bell sold at full value in less than 120 days. Brian and Aidan offered invaluable advice that guided us through the complexities of the real estate transaction. Their expertise was evident in their ability to navigate negotiations, legal considerations and logistical challenges with ease.”

JJ Tompkins

News Media Corporation

JJ Tompkins

President

“When I assumed leadership at NMC a few years ago, my primary goal was to optimize our resources. Partnering with the BellCornerstone team, led by Aiden Cleghorn and Brian Rossi, we developed a comprehensive plan to address our underutilized real estate. The execution of this plan, guided by their expertise and dedication, has allowed us to wipe out almost all of our debt and focus on what we do best, media operations, serving our communities with quality journalism and growing advertising. I would highly recommend setting up a call with BellCornerstone.”

Michael Fishman

Lakway Publishers, Inc

Michael Fishman

President

BellCornerstone has been a wonderful partner in helping right-size our business. Their experience working with others in the industry has provided a unique perspective in our strategic initiatives. Their attention to detail and sincere concern have been paramount.

Kevin Pickhardt

Pharos

Kevin Pickhardt

CEO

“The level of commitment that was made to create this unique technology campus experience, combined with a focus on employee wellness and community sustainability, is the perfect fit for Pharos as we further our development as a benefit corporation and solidify our foundation for growth.”

Jon K. Rust

Rust Communications

Jon K. Rust

President

“We’ve ‘right-sized’ several of our operations into smaller buildings and sold old press plants. BellCornerstone has been a pleasure to work with: straightforward, responsive, creative and successful. We’ve worked with other firms, but the BellCornerstone team is the absolute best in keeping us up to date on all aspects of the process. They’re also fun to work with!”

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