7,600 sq. ft.
Renovating and renewing an existing space
As part of their new business plan, CE North America wanted to implement a dropship strategy that would allow the company to offer customers products without CE having to purchase the items. This strategy meant a cost-savings for the company who would no longer need to dedicate as much money to warehouse space to store its inventory. As a result, CE sought to relocate its corporate headquarters in Miami to a more appropriately sized facility in Memphis, TN.
For their new location, CE was looking for a facility in a healthy, centrally located industrial submarket. They engaged Cresa’s Miami team to help:
CE North America was able to execute a sale-leaseback option at its former HQ; the new owner allowed the company to remain on the property for s short period as a tenant. This granted CE more than enough time to implement its relocation strategy and move its distribution center to a central, industrial location in Memphis.
In the end, the combination relocation and sale-leaseback saved CE over 60% in rental costs and centralized its U.S. distribution network.