Prudential Fox & Roach's Ocean City Real Estate Group Negotiates Landmark Boardwalk Sale
OCEAN CITY, NJ---The Ocean City Real Estate Group, with the Prudential Fox & Roach Realtors’ Ocean City Battersea Office, has announced the successful sale of Mia’s Christmas Gallery, Ocean City’s most famous anchor boardwalk retail destination. Robert and Kristina Doliszny’s Ocean City Real Estate Group listed the boardwalk real estate together with the business, and procured a combined sale of both to Jim and Jane Saile of Beach Ventures LLC.
Mia’s founder Charlie Caucci, his wife Rose and daughter Mia listed both their premier boardwalk real estate property as well as their well-known boardwalk business with Robert and Kristina Doliszny, lead agents of the Ocean City Real Estate Group (www.oceancitygroup.com). Having recently negotiated and closed the successful sale of Ocean City’s landmark Atlantis Luxury Inn property, the Dolisznys assisted the Cauccis in correctly positioning, aggressively marketing, and successfully procuring a buyer for their prominent boardwalk property, along with all the business assets. The Cauccis founded their boardwalk store in 2000 after previously owning a garden center/Christmas store on the mainland. “After 42 years in the retail business, it was time to retire,” Caucci said.
The Dolisznys engaged numerous interested buyers prior to placing Mia’s under contract with the Sailes. “The majority of the buyers were extremely interested in acquiring the boardwalk real estate with the intent of dissolving the business and then leasing the three 20-ft retail stores for investment income. “The Cauccis however were interested in locating a buyer of both the real estate and the business,” said Kristina Doliszny. Charlie Caucci, a former President of the Boardwalk Merchants Association said, “I know that boardwalk real estate is the most valuable asset on the monopoly board and the most sought after asset in investor portfolios, but we wanted to find a buyer for the anchor boardwalk business who would be willing to carry on our Ocean City family tradition.”
According to Kristina Doliszny, Christopher Miller, President of Evergreen Equity Partners (www.evgequity.com) was instrumental in securing very attractive commercial financing for their client that enabled the deal to close. Miller's company brokers a variety of commercial lending products and specializes in securing government guaranteed financing through the U.S. Small Business Administration (SBA). "This transaction was a perfect fit for the SBA's 7(a) loan program, and we successfully identified several interested lenders who were excited to compete for the loan and provide the buyer funding," explains Miller. Evergreen Equity Partners works with small business owners and companies to assist them in securing commercial financing for business purchases, real estate acquisitions, refinancing debt, or acquiring additional working capital for existing businesses. Miller's company is also one of the largest volume SBA broker firms in the United States with a remarkable network of bank lenders nationwide.
"The ability of the Dolisznys to network their resources, creatively market, and skillfully negotiate even the smallest details is notably impressive. They place a high focus on individual client needs, so both buyers and sellers trust and respect their judgment. I work with many real estate agents across the country on a daily basis, but none have ever been as knowledgeable, client and detail oriented, and willing to go 'above and beyond' for clients as the Dolisznys, and I commend them for it," said Miller.
Statistics compiled through the South Jersey Shore Multiple Listing Service, reveal the number of closed Ocean City real estate sales as of the end of July have strongly rebounded in 2012, up 17% over last year and up 41% over 2010. This rebound includes active interest in commercial sales and new business start-ups as well as traditional residential properties throughout the island. When asked about continued investor interest in other boardwalk properties, Robert Doliszny replied, “Waterfront homes on the beach, bay and lagoon as well as beach block duplex condos are what the vast majority of our current portfolio of buyers are most interested in purchasing right now. However, there is no doubt that the high profile attention and interest of acquiring Mia’s has garnered fresh new appeal in boardwalk property. And for us, it's resulted in many more new clients who are eager to explore both residential and commercial Ocean City real estate offerings that come onto the market directly with us first.”
New Mia’s owners, Jim and Jane Saile and their daughter Janie, originally from Huntingdon Valley, PA, have owned their current vacation home in Ocean City since 1999. "We are very excited about our purchase of Mia’s and we are proud to continue this Ocean City and family tradition for all to continue to enjoy", commented Saile. "I always wanted to own a Christmas store and for it also to be located on the Ocean City Boardwalk is a double bonus." The Saile Family will continue the wonderful tradition of providing unique Christmas decorations and desirable giftware at reasonable prices and have announced that all Mia’s employees have agreed to remain. "Our goal is that Mia’s remains the same fun place that it has always been to shop and that the customer will not notice that there has been a change in ownership. Stop in and say hi", added Saile.
Charlie Caucci remarks, "Today is a bittersweet day as I am looking forward to retirement but it is emotionally difficult for me to be selling the business. I am sad to sell it, but I am excited to be able to find a family to purchase the store that has the same love of Christmas as Roe, Mia and I.”
The Ocean City Real Estate Group: Robert Doliszny & Kristina Doliszny may be reached at Prudential Fox & Roach Realtors, 421 Battersea Rd, Ocean City NJ 08226 at 609-399-0041 Ext. 54 or via e-mail: robert@OceanCityGroup.com, www.OceanCityGroup.com.
Prudential Fox & Roach, REALTORSâ, the nation’s fifth largest provider of home services in the United States, is an independently owned and operated member of the BRER Affiliates, Inc. As the Tri State area’s real estate leader, the company has more than 57 sales locations and 3750 associates. Through its affiliate, the Trident Group, the company provides one-stop shopping and facilitated services to its clients including mortgage financing and title, property and casualty insurance. Visit our Website at www.prufoxroach.com.