Status on Our Current Building

A contract to sell our building and property was completed by all parties last Friday, June 16th. Earlier this week, in my role as Director of Operations, along with our Broker and agent, I met with the buyer, their broker/agent, and a cadre of contractors to tour the “guts” of the building and property, as part of the 45-day “Due Diligence” period.

For those unfamiliar with the term, the Due Diligence phase of the process is where the buyer can bring in specialized tradespeople to evaluate the building and the property, and determine if the building will suit their needs financially.

The walk-through lasted nearly 2 hours and covered everything from the number of parking spaces to lifting ceiling tiles (to determine structural and fire walls), looking at potential window and roof leaks, and such.

Fortunately, blueprints from when the building was originally built and modified when Unity of Melbourne purchased the building were stored and were able to be shared with the potential buyers which is making the contractors job much easier in preparing their documentation for a final decision by the prospective owner.

The Due Diligence period runs through July 31st, which the buyer may determine the building does not suit their needs (for whatever reason). If their decision is to proceed with the sale, the closing/settlement date would be August 30th.

The contract allows us to remain in the building through October, though I presume we will be in our new space by early October.

Our New Location

With the delay in completing a new sale contract, we have not been able to sign the lease for our new space, and our Broker and agent are in contact and coordination with the Broker and agent representing the owner of our new space to ensure that space will not be rented out to anyone other than us.

How You Can Help 

I want to thank Mickey and Bernard for their review and packaging of historical files that we need to keep and Cathy for continuing to shred the documents that have reached their specified retention date, so we are not moving and storing materials and documents no longer needed.

In the coming weeks, we’ll be staging items that we will be taking and moving items into specified rooms for the upcoming liquidation sale. More to come on that next week.

Thank you for your continued interest and patience during this period.

Should you have any questions, please ask me.

Randy B. Fillmore, L.U.T.
Director of Operations