The Challenge
First Baptist of Alexandria Foundation had been an
unlikely landlord for years. A donor had gifted the King
Street congregation an industrial property at 434 Calvert
Avenue, where a succession of tenants provided rental
income that supported the church’s mission. Most recently,
a single tenant anchored the property for a decade.
When the tenant announced its departure, the church
reached an inflection point: remain a landlord and invest
capital into the aging structure to secure a new tenant, or
sell and capture the appreciation the property had quietly
accumulated.
Tartan Action Plan
The team recognized both the development momentum in the Oakville Triangle and the growing scarcity of
industrial space in the area. This insight led them to determine that a no-list-price, auction-style process would
let competitive tension drive the highest price. TARTAN anticipated that demand would come not just from
developers, but from service businesses, trades, and operators who would be willing to pay a premium for a
foothold inside the city limits of Alexandria.
The Results
The market responded exactly as the strategy intended: multiple offers came in rapidly, with the first being
the strongest. The property was under contract within 14 days and closed within 30. TARTAN transformed
the vacant building into a well-timed, well-executed sale — delivering a significant financial outcome for the
Church’s Foundation with minimal burden on its nonprofit, volunteer-led board of trustees.
