Monday, July 27, 2009

Property Team Meeting

Just wrapped up a very productive property team meeting. We worked through our second offer (in the form of a letter of understanding) and will send it to the owner this week. The corporate real estate process is a long one, but we are making some headway. After receiving the appraisal for the property and doing some due diligence on the cost of site preparation, we were able to formulate this second offer with more data behind it.

Pray the owner will accept the offer and that everything continues to fall in place. We have begun to visit with Adams Township regarding some additional permitting issues as well as traffic light and intersection exploration with Pen Dot.

We will continue to keep you updated.

Monday, July 6, 2009

Letter Of Intent and Appraisal

The owner has officially accepted our Letter of Intent that will hold the property for 60 days while we finalize the agreement. The 60 day period begins when we receive the appraisal for the property.

We have been promised that we will receive the appraisal on Thursday, July 9th. We will update the blog when we receive the appraisal and as we continue to work out the finer points of the agreement.

Thanks for your patience. This is a process that has a lot of steps. The team is making sure that we cross all the "t's" and dot all the "i's".