In 2009, The Dartmouth Company was named the National Account Manager for Lowe’s Excess Properties. Rob Grady, Ted Gildea and Sugar Smookler comprise the Lowe’s Excess Properties team. Currently, Dartmouth manages the listing of approximately 150 properties for sale across the country for Lowe’s. These properties consist of retail stores from which Lowe’s has relocated, excess tracts of land owned by Lowe’s, and a number of smaller outparcels in front of existing Lowe’s stores. Over the course of the first year of the Dartmouth disposition effort, Lowe’s has seen in excess of forty properties go under contract, with new activity being generated daily.In response to the opportunity to assist Lowe’s in their property disposition, Dartmouth created the Deal Management System (weblink to DMS case study), a web-based platform providing a single place for marketing, file sharing, and reporting on every available property for Lowe’s. The marketing portion of the site is www.lowes-realty.com.
The Dartmouth Company reached out to qualified retail brokerage firms across the country to build a network that provides Lowe’s with both national coverage and local expertise. Chainlinks partners have been invaluable resources in many regions across the country. For every available property, we prepare a detailed market report and Broker Opinion of Value based recent market comparables, allowing Lowe’s to maximize the monetization of their assets.
