The Church and the City wanted an owner who would take care of the landmark asset through reuse, but only a small pool of such buyers would yield the greatest value. Consequently, the Church needed a public-private broker that could negotiate the best outcome given the few opportunities available.
Kosmont Realty Corporation (“KRC”) was retained by the Successor Agency to the former Community Redevelopment Agency of the City of Norco (“Successor Agency” or “SA”) to represent the SA in the marketing, sale, and disposition of a ~1.63 acre vacant commercial property located in the City’s Auto Mall on S Four Wheel Drive.
KRC provided PMP and real estate advisory services to the SA in an effort to help productively advance and ultimately secure approval of the disposition of Successor Agency’s property. Kosmont aided the SA with advisory assistance with DOF negotiations, as well as determining the appropriate future uses and strategies for the disposition of one of its PMP properties.