OWENS REALTY SERVICES APPOINTED RECEIVER AND MANAGER FOR 265,000 SQFT OF OFFICE SPACE IN RALEIGH

Raleigh, NC – [November 20, 2024] – Owens Realty Services is excited to announce that our President and CEO, Bob Owens, has been appointed receiver and manager for three buildings totaling 265,000 square feet in North Carolina.

As the commercial office space market continues to undergo significant stress as many companies continue to downsize or transition to a work-from-home model, Owens Realty Services is committed to stabilizing and spearheading the market's recovery during these challenging times.

The appointment of Owens Realty Services as the receiver was made official in November 2024. We oversee the day-to-day property and asset management on behalf of the lender during the foreclosure process. So far, Owens has saved the lender upwards of $1/ square foot by utilizing best practices in our operations. With a proven track record and a strategic vision for navigating market stresses, Owens Realty Services is well-positioned to manage these properties and support the broader real estate market during these challenging times.

Contact: Palmer Vietor, Vice President, Owens Realty Services     Phone: 240.506.2627 Email: pvietor@owensrealtyservices.com