March received the sales mandate from a local company for a logistics site on the Oudenburgsesteenweg in Ostend. It was a fully rented building with two users: a major logistics player and the owner himself. The building, the largest in Ostend Stores Business Park, was recently renovated.

Due to the smooth connection with the E40 to the interior and Calais, and the location in the port of Ostend, the site is in a desirable location.

The sales process started with the preparation of an estimate. March Companion Laurens Vermeulen drew up a price indication based on data points. A list of carefully selected potential investors was then contacted in a discreet manner. Some of these investors expressed interest and were given access to all available documents in the file. Laurens organized visits to the site so that all interested parties could get an optimal picture of the investment opportunity.

March managed the bid process in a professional manner. In the bid round, STO Real Estate emerged as the winner. The March team then assisted the seller in preparing the sales documents, in particular the sales agreement (“compromise”). The notarial deed could be signed within a short time, so that the entire transaction could be completed efficiently.

An "off-market" process is a transaction in which the property is not publicly put up for sale on a classifieds website or the real estate agency's website. This concerns a file that can be offered discreetly to parties who have submitted their search query in advance and examined it together with the March team.

The advantage of an off-market process is mainly that a project can be presented to the right parties in complete discretion, so that a quick transaction can be achieved. In addition, it offers those interested parties the opportunity to carry out proper due diligence in a structured framework.

Off-market commercialization can therefore be an interesting way to tackle cases that require a specific profile of candidate buyer or tenant.