From Today’s Garden Center
Somewhat between Seattle and Tacoma, Washington, sits Dig Floral & Garden on Vashon Island. This two acre property got its start 14 years ago, growing from a blackberry patch. Today, under economic stresses, Dig’s owners Sylvia Matlock and Ross Johnson are putting their business up for sale.
But even though Dig is up on the market, the two of them plan and hope to remain involved with its future. Ideally, the owners would like to find a buyer that would be willing to develop the front half of the property and lease the back half to them. If everything works out, the two would be able to free up a substantial amount of equity that they have tied up in a key piece of real estate.
“I have my vision,” Matlock says. “But I also realize that if someone buys the place, it’s their.” Johnson adds, “The credit market is tight. We have equity we can’t use…to get us through these bumpy times.” Matlock finds the opportunity to downsize and the chance to focus on the more artistic side of garden retail to be appealing.
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