Volunteers of America

For years, Volunteers of America had received numerous unsolicited offers regarding the sale of its headquarters located at 1776-1780 E. Broad Street, however the organization wasn’t prepared to sell. When the COVID-19 pandemic forced its staff to work remotely, and after years of consolidating its staff, the organization realized the space was much larger than it needed and that it could reallocate the capital it had in tied up in the asset toward its programming. However, the organization wanted to ensure it received the highest and best offer, so they approached the Office Brokerage Group who proposed a comprehensive go-to-market strategy that would expose the property to buyers, investors, and developers alike.

After receiving multiple competitive offers, a tenant of the building shared its interest in purchasing the building. As the Office Brokerage Group had already taken the property to market and received multiple offers, they were able to share with confidence what terms needed to be met to make the sale. The portfolio was sold in July 2021 for $3.5 million.

After the success of this sale, Volunteers of America entrusted the team to oversee its broader real estate strategy. As a social enterprise with a multi-market, multi-specialty real estate portfolio, identifying the organization’s strength in markets and assets was critical to its strategy so that it could develop perennial sources of revenue that supported its mission. The Office Brokerage Group worked hand-in-hand with the organization’s site selection representative to develop a unique site selection formula using demographic and GIS modeling. This planning facilitated Volunteers of America’s strategic expansion into markets that include Cincinnati, Toledo, Mansfield and Indiana. The team has since helped the organization negotiate 14 sales, leases, renewals and relocations across retail, industrial and office assets.