Cherry Hill, NJ [November 18, 2021] –
Vantage Commercial is excited to announce the successful sale of Main Street Cigars and its related mixed-use real estate located in Medford, NJ.
Anthony Dolic, the seller, was represented by Ken Richardson, Executive Director, and Mike Gries, Sales Associate, who worked to identify buyers for both the business and the assets, including the multi-tenant building.
In preparation for the sale, the seller engaged the services of Vantage Commercial to perform a valuation of the business and real estate. Based on the valuation results, the seller then signed an exclusive listing agreement to market both the business and the property.
The buyers plan on leveraging the existing membership and popularity; the current lounge will be expanded in both size and membership. It has not yet been indicated if the retail cigar sales will continue.
“The valuation of a business is a process that is both detailed and emotional for a seller,” stated Richardson. “The process needs to be managed by the broker and requires an in-depth review of the financial performance, brand recognition, social media, reviews, and overall ability to be sustained by a new owner. When the business has other income-producing elements, such as the multi-tenant aspect, even more diligence is required.”
“I was thrilled with the result Vantage delivered. Anthony has established more than a cigar shop; it is a destination. Having met with several interested investors, I am confident the buyers are ideally positioned for success. They are intimately involved in the town, respect what has been built, and are committed to delivering for the members and the community,” said Gries.
With this sale, Vantage Commercial continues to build on its great success, marketing and selling business entities of all types, sizes and values. These transactions require exceptional skill and care as all parties need to be aligned on every facet of the business, from finances to management to real estate and others.