ABC Supply Company
16,000 sq. ft.
ABC Supply Company
1320 Air Wing Rd
1320 Air Wing Rd Otay mesa lease sale
Client
- Client 1320 Air Wing Rd
- 55,000 sq. ft.
- Industrial
Locations
- San Diego
Services Provided
- Transaction Management
Cresa Team
- Justin Walseth
Client Objectives
Continuity of Manufacturing Operation and Energy Savings during property sale
Results
Cresa was formally engaged in the renewal process 12 months prior to lease expiration. With a tight market and a potential lengthy phased relocation process, Cresa helped the client build a relocation proforma. Though capital markets relationships, Cresa was able to learn an eminent building sale was to occur.
Under the circumstance, Cresa advised the client a quick deal could accomplish significantly lower than market economics and incentives. Cresa executed the strategy by securing 6 months of free rent, and an offset to a planned solar array project. Cresa led the RFP process to procure a solar provider, secured a 10-yr PPA, which investment yielded a payback period of less than 2 years.
