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Cape Cod Times | Hyannis, MA
Size: 33,912 SF
Sector: Media/Newspaper
Service: Property Disposition
“On-the-market” doesn’t mean it’s getting in front of all the right people
The Need
BellCornerstone was hired by GateHouse Media on behalf of Cape Cod Times to right-size their iconic newspaper operation. The existing building was too large for them and was functionally obsolescent.
The BellCornerstone Approach
Cape Cod Times three major goals:
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Downsize in place
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Sell the building
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Find a Buyer willing to renovate the building so the newspaper could maintain community continuity while refreshing the user experience for the employees
To this end, BellCornerstone coordinated a multi-dimensional marketing strategy to find a qualified buyer who would share the newspaper’s vision and commitment to the community.
This belt and suspenders approach included newspaper advertorials, building signage, extensive digital marketing and notification to all local brokers. Additionally, the BellCornerstone team launched a telecommunications campaign during which over 2,000 outbound calls were placed to New England commercial real estate investors and end users.
The Result
Through BellCornerstone’s comprehensive telecommunications campaign, the perfect local investor was identified as our development partner and new landlord for the newspaper.
Despite extensive digital marketing, building signage, and joint effort with local brokers, it was in fact the BellCornerstone telecommunications team’s effort that ultimately located the buyer.
The team at BellCornerstone worked in collaboration with the investor and the newspaper staff to facilitate an extensive renovation of the property, revitalize the newspaper space and restore the remaining space in the building with a symbiotic use.
"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."
