This product began with the question of whether or not an unsolicited offer for one of the three distribution buildings was a ‘fair’ price. The offer was submitted by a very experienced and qualified broker representing the world’s largest industrial owner. NBS-REC recommended not directly responding to the unsolicited offer, but to engage the market in order to harvest additional information about pricing and to gage interest levels in the identified assets. NBSREC engaged three national brokerage groups and were able to confirm a value range and relative interest. Through the marketing process, it was discovered that the unsolicited offer rated only 10 out of 14, and their best and final offer was rated 5 out of 8. The decision to pursue a formal marketing process and broad exposure provided OTC ownership with multiple qualified offers. These competing offers pushed the values well beyond the original unsolicited offer. The selected broker and their marketing efforts provided for a 53.0% increase in the value related to the original asset offer. Additionally, NBS-REC was able to negotiate the sales commission, which combined for a direct value increase to OTC ownership in excess of $8.7M.