Douglas and Cheryl Ann Schaubhut owned a 3,000-square-foot retail building on Cedarcrest Avenue, where they ran a small embroidery business know as EmbroidME. They decided to sell the building to KG Enterprise, which owns Key’s Graphics, a custom embroidery operation that off Drusilla Lane. Trey Williams with Latter and Blum brokered the sale last week for $245,000, or about $81 per square foot. According to Williams, Key’s will maintain the operation out of Cedarcrest. It was a good fit for them because Schaubhut catered to a different clientele so the purchase will expand Key’s business.
In last week’s column, I wrote about an office warehouse that closed in Industriplex on North Merchant. The building sold for $401,000, or about $119.70 per square foot. The purchaser was LSL interest, represented by Ben Stalter at Maestri Murrell Commercial Real Estate. Stalter called to let me know that the sale price per square foot might be deceptive because this was not an ordinary office warehouse sale. The building had a large amount of office space and the finish included marble floors and excellent millwork. This coupled with the fact that it included a site that allowed for expansion of the building made the sale make a lot of sense for the purchaser.
(Appraiser Tom Cook owns Cook Moore and Associates. Reach him at 293-7006 or TCook@cookmoore.com.)
