When a company is looking to expand its headquarters, it may look outside of its current city to do so. One established company in Massachusetts was looking to expand but was able to remain in the same location with the help of a neighboring establishment. The real estate transaction that took place was a benefit to both entities.
R.H. White is a family-owned construction company that has been based in Auburn, Massachusetts, for 90 years. The company was looking to move, however, because of the need for more space at its headquarters. The Knights of Columbus were able to provide a building for them, allowing them to stay in town.
The Knights of Columbus building was provided to the construction company for $285,000. R.H. White’s owner stated that the Zoning Board of Appeals has already approved the agreement. The Knights of Columbus stated that the building they sold to the company could not be used for anything else except residential use. But because of the company’s need, the building was sold to R.H. White, which plans to use the facility to hold meetings and training sessions.
The transfer of property from one owner to another, as in the above situation, can be a relatively easy process. Yet even in such situations, it is always a good idea to obtain a thorough understanding of all the laws and other information needed to make the transfer successful. Good preparation at the outset can make the process run more smoothly.
Source: Telegram.com, “R.H. White Construction to stay in Auburn,” Ellie Oleson, Feb. 10, 2013