Locating a Smaller Space with a Higher Clear Height

Success Story by Michael Bennett and Lucas Redd for Piedmont Plastics
Client
  • Piedmont Plastics
Space
  • 39,445 sq. ft.
Industry
  • Industrial
Locations
  • Atlanta
Services Provided
  • Transaction Management
Cresa Team
  • Michael Bennett
  • Lucas Redd

Client Objectives

  • Piedmont Plastics is one of the leading plastic distributors in North America. They were approaching the end of their lease term and were deciding whether to renew or find new space. The renewal rate was going to increase substantially, so Cresa was charged with finding a solution within a 5-mile radius of the current location.
  • Piedmont’s existing space was 47,918 SF facility in Lawrencevile, GA. They were paying a substantial amount for floor space while not utilizing the opportunity to stack their product one row higher. Cresa was able to locate a 1st generation space that had a smaller footprint with a clear height that allowed them to utilize their racking system more efficiently.

Results

  • Cresa located 39,445 SF of 1st generation space that had 36' clear in the warehouse.
  • Piedmont is now utilizing their clear height and racking system to maximize their entire space.
  • Cresa was able to negotiate that the landlord would turnkey all the tenant improvements that Piedmont required (i.e. New office space, dock levelers, power upgrades).
  • Cresa leveraged their market knowledge and knew this space had been on the market for over a year. With this information, Cresa was able to negotiate a below market rate which led to net savings of over $600,000 over a 7-year lease term.
Piedmont Plastics
Piedmont Plastics

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