Quest Windows Systems Inc.
329,000 sq. ft.
Quest Windows Systems Inc.
Client
- C&R Bindery
- 26,558 sq. ft.
- Industrial
Locations
- Dallas
Services Provided
- Transaction Management
- Consulting
Cresa Team
- Alex Coe
Client Objectives
C&R Bindery, an industrial book and print binding firm, had a proven, long-standing relationship with Cresa. Over the years, the partnership successfully completed multiple transactions. In Q1 2020, Cresa and C&R Bindery began to discuss an upcoming lease renewal. As strategic planning progressed, Cresa learned that the current ownership of C&R Bindery was considering selling its business. With the process underway, Cresa and the current owner of C&R Bindery understood the value of negotiating renewal terms well in advance of the lease expiration date, in order to best position the potential new buyer with favorable, future lease terms.Results
While C&R Bindery’s lease expiration was rapidly approaching, Cresa negotiated favorable terms as new ownership was completing their acquisition of the business. As a result of Cresa and C&R Bindery strategically advancing the process early-on with the landlord, the project team negotiated a rental rate well below market, a rent abatement period, and a tenant improvement allowance to pay for any minor improvements to the premises.Alex made the lease assignment process very easy and brought great clarity in the short amount of time that we had, to not only purchase the business, but handle the renegotiation of the new lease as well.Craig Owens | President / New Ownership
C&R Bindery
