2012 AUGUST-MASHPEE EDIC Plan for Executive Park

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i i BENCHMARK DATA-RECENT SALES of PROPERTY IN MASHPEE INDUSTRIAL PARK AREA I %of Address Acrea a Assessment Sale Price Assessment Per Acre 52 Mercantile Way 1.63 $343,400 $320,000 93% $196,319 153 Commercial Street 2.01 $337,100 $330,000 98% $164,179 I 64 Industrial Drive 191 $351100 $387,500 1100%p $202,880 Averages I117 Industrial Drive Ext 2.66 $372,300 $372,300 1 $499,528 per competition $465,375 $815,355 - IBENCHMARK DATA-COMPETITIVE PROPERTY FOR SALE IN MASHPEE INDUSTRIAL PARK AREA %of Per Acre - Address Acreage Assessment Askin Price Assessment . at Askin 161 Commercial Street 1.75 $347,500 $450,000 129% $257,143 11 Industrial Drive 2.01 $457,000 $550,000 120% $273,632 . I 89 Industrial Drive 1.38 $353,600 $395,000 112% $286,232 5 Mercantile Way 1.10 $326,700 $450 000 138% 1 09,091 Averages BBased on the above information, the EDIC has considerable flexibility in determining an asking price for this property which could clearly mark this property as the.best value I in the area. In the current economic climate, finding a buyer is not necessarily the most difficult part of the process. There is more in-depth information provided later in this document, but obtaining financing is still very difficult. The EDIC has an advantage over other sellers due to a number of factors: • The land cost is virtually zero, the Town having written down the lost tax revenue when taking title to the property. • The EDIC has the ability to offer incentives to attract a quality buyer • The EDIC's bonding authority could be used to facilitate financing • . The EDIC has the ability to finance or participate in financing the sale • The FDIC could offer a land lease • The EDIC has the ability to offer a combination of the above Thus, in the event a conventional sale is not doable, utilizing any of the above would Bstill provide the EDIC with a regular income stream. Should the EDIC decide to engage this firm to represent its interests, a more definitive I marketing strategy will be developed which will focus on reaching out to a targeted market of prospective buyers through electronic postings and our network of on and I off-Cape commercial brokers and investment bankers. Our fee for services is 6% of the sale or land lease price, payable only if and when the sale or land lease is consummated. I