HomeMy WebLinkAbout5A2 Purchase Agreement (23931-23977 Brick Rd.) - Fully ExecutedSouth Bend Redevelopment Commission
227 West Jefferson Boulevard, Room 1308, South Bend, Indiana
Redevelopment Commission Agenda Item
DATE : 5/4/2026
FROM: Erin Michaels – Property Development Manager
SUBJECT: Purchase Agreement – MAW Brokerage LLC–
23931-23977 Brick Road
Funding Source* (circle) River West; River East; South Side; Douglas Road; West Washington; RDC General; Riv. East Res.
* Funds are subject to the City Controller's determination of availability; if funds are unavailable, as solely determined by the City Controller, then the
authorization of the expenditure of such funds shall be void and of no effect.
PURPOSE OF REQUEST: Approval of Purchase Agreement with MAW Brokerage LLC for Sale of 23931-23977 Brick
Road
SPECIFICS: The proposed Purchase Agreement (the “Agreement”) is for a property owned by the Redevelopment
Commission (“RDC”) located at 23931-23977 Brick Road. The RDC acquired this property from in 2004 and the
property was approved for disposition on August 11, 2016 with no bids received on September 15, 2016
4MAW Brokerage LLC, an entity created by Bradley Company for this project, proposes to redevelop the property
into two buildings to be leased as industrial flex space in a phased approach.
The Agreement commits MAW Brokerage LLC to the following terms:
-Purchase Price: $25,000.00
-Due Diligence Period: 120 days
-Closing Deadline: 60 days after due diligence period
-Minimum Investment: $1,800,000.00 total
o Phase 1: $1,000,000 for a minimum 8,000 SF building
o Phase 2: $800,000 for a minimum 6,000 SF building
-Construction Start Deadline
o Phase 1: 18 months after closing
o Phase 2: 36 months after closing
-Construction Completion Deadline
o Phase 1: 24 months after closing
o Phase 2: 48 months after closing
-Certificate of Completion issued by the RDC once construction is complete for each Phase
The sale of this property will bring currently vacant land to productive use, while promoting new business
growth in the City of South Bend. Staff recommends approval.
_________________________Pres/V-Pres
ATTEST: __________________Secretary
Date: ____________________
APPROVED Not Approved
SOUTH BEND REDEVELOPMENT COMMISSION
May 14, 2026
IN WITNESS WHEREOF, the Parties hereby execute this Real Estate Purchase
Agreement to be effective as of the Contract Date stated above.
BUYER:
Dated: L\ .. 13 • lf.o
SELLER:
South Bend Redevelopment Commission
Ii A&� •,-1 /
Troy Warner, President
ATTEST:
David Relos, Vice President
The Grantor conveys the Property to the Grantee subject to the limitation that the Grantee, and its
successors and assigns, shall not discriminate against any person on the basis ofrace, creed, color, sex, age,
or national origin in the sale, lease, rental, use, occupancy, or enjoyment of the Property or any
improvements constructed on the Property.
Each of the undersigned persons executing this deed on behalf of the Grantor represents and
certifies that they are a duly authorized representative of the Grantor and has been fully empowered, by
proper action of the governing body of the Grantor, to execute and deliver this deed, that the Grantor has
full corporate capacity to convey the real estate described herein, and that all necessary action for the
making of such conveyance has been taken and done.
ATTEST:
ST A TE OF INDIANA
ST. JOSEPH COUNTY ) ) SS:
)
GRANTOR:
SOUTH BEND
REDEVELOPMENT COMMISSION
I
'.1/1",V 1/.-l
Troy Warner, President
Before me, the undersigned, a Notary Public, in and for said County and State, personally appeared
Troy Warner and David Relos, known to me to be the President and Vice President, respectively, of the
South Bend Redevelopment Commission and acknowledged the execution of the foregoing Special
Warranty Deed being authorized so to do.
[N WITNESS WHEREOF, I have hereunto subscribed my name and affixed my official seal on
the .Hifaday of VY) ot y , 2026.
My Commission Expires:
I affirm, under
LAURA 0. HENSLEY Notary Public • Seal St Joseph County· State of Indiana Commission Number NP0732150 My Commission Expires Mar 3, 2029
by law. /s/ Danielle Campbell Weiss
a care to redact each Social Security number in this document, unless required
This instrument was prepared by Danielle Campbell Weiss, Senior Assistant City Attomey. City of South Bend, Indiana, Department of Law, 227 W.
Jefferson Boulevard, Suite l 200S, South Bend. [N 46601
Page 2 of2
David Relos, Vice President
and to terminate and revest in the Grantor the estate conveyed to the Grantee by this deed and all of the
Grantee's rights and interests in the Property without offset or compensation for the value of any
improvements to the Property made by the Grantee. The recordation of a Certificate of Completion in
accordance with Section 11 of the Purchase Agreement will forever release and discharge the Grantor's
reversionary interest stated in this paragraph.
The Grantor conveys the Property to the Grantee subject to the limitation that the Grantee, and its
successors and assigns, shall not discriminate against any person on the basis ofrace, creed, color, sex, age, or
national origin in the sale, lease, rental, use, occupancy, or enjoyment of the Property or any improvements
constructed on the Property.
Each of the undersigned persons executing this deed on behalf of the Grantor represents and
certifies that they are a duly authorized representative of the Grantor and has been fully empowered, by
proper action of the governing body of the Grantor, to execute and deliver this deed, that the Grantor has
full corporate capacity to convey the real estate described herein, and that all necessary action for the
making of such conveyance has been taken and done.
ATTEST:
STATE OF INDIANA
ST. JOSEPH COUNTY ) ) SS:
)
GRANTOR:
SOUTHBEND
REDEVELOPMENT COMMISSION
Troy Warner, President
�--a...iilllo.-' ........ � ........... .,,
� LAURA D. HENSLEY Notary Public -Seal St Joseph County • State of Indiana C::m:,·�sion Number NP0732 J 50 My Co-nmissfon E,cpires Mar 3, 2029
Before me, the undersigned, a Notary Public, in and for said County and State, personally appeared
Troy Warner and David Relos, known to me to be the President and Vice President, respectively, of the South Bend Redevelopment Commission and acknowledged the execution of the foregoing Special
Warranty Deed being authorized so to do.
IN WlTNETJn WHEREOF, I have hereunto subscribed my name and affixed my official seal on
the I tf fl1day of � 01 y . 2026.
My Commission Expires:
in St. Joseph County. lndt
I affirm, under the penalties for perjury, that I have taken reasonable care to redact each Social Security number m this document, unless required
by law /s/ Danielle Campbell Weiss
This instrument was prepared by Danielle Campbell Weiss, Senior Assistant City Attorney, City of South Bend, [ndiana, Department of Law, 227 W
Jefferson Boulevard, Suite \200S, South Bend, IN 4660 I.
Page 2 of2
David Relos, Vice President
City of South Bend
Department of Community Investment
Real Estate Purchase Agreement Review
Answer the questions below and return to the Department of Community Investment on or before
June 30 and December 31 of each year until substantial completion of the Property Improvements.
Project Information
Project Name: __________________________________________________________
Address: _______________________________________________________________
Construction Completed to Date:
Project Schedule Update:
Itemized Accounting of Private Investment to Date:
Position: _______________________________________
Email: _______________________________________
Signature: ___________________________________ Date: ___________________
City of South Bend
Department of Community Investment
Real Estate Purchase Agreement Review
Answer the questions below and return to the Department of Community Investment on or before
April 15 of the year that is one year after the Mandatory Completion Date and on each April 15
thereafter until April 15 of the year that is five (5) years after the Mandatory Completion date, as
applicable to each phase of the development.
Project Information
Project Name: __________________________________________________________
Address: _______________________________________________________________
Phase and Year Being Reported On: ________________________________________
Percentage of applicable building(s) that are presently occupied by tenants:
For each tenant, a description of the type of business being conducted at the
property and approximate number of individuals working at the location:
Position: _______________________________________
Email: _______________________________________
Signature: ___________________________________ Date: ___________________