The building sale price is way under projected real estate growth values

[CyndiS]

One very important point that needs to be considered: the current sale price of $250/sq ft will be a bargain price in just a few short years. The proposed buyer is local, whereas the board who made this decision are not. Given that the proposed development around the area where the building is located is projected to increase real estate values to $400/sq ft within the next few years, this local buyer sees a deal and is ready to pounce on it, at ACA's expense. Consider that once this deal closes, the new owner makes any needed repairs and flips the building within the next few years and gets his $400/sq ft rate. Further, those lease options the board is so confident about are flimsy at best. Once a buyer comes along with that unbeatable offer but wants those lease options gone, you can rest assured that they will be, and ACA will be out in the cold, not only physically in the loss of office space at a discounted rent but in the lost opportunity to leverage the potential future value of the building. This is what happens when you have a remote board and staff who are not privy to local knowledge. Vote NO and insist that the board open dialog with members to come up with a strategic plan that leverages the building's value.