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Valmet is a Finnish company and a developer and supplier of technologies, automation systems and services for the pulp, paper, and energy industries.
Valmet had recently acquired an Atlanta-based company being forced to relocate their plant within the Atlanta Region. Simultaneously, Valmet was considering a real estate consolidation strategy across their existing portfolio to drive efficiency for manufacturing and distribution functions across North America.
The objective was to identify a suitable relocation option for the recently acquired Atlanta plant while also evaluating opportunities that could accommodate both the Atlanta relocation and consolidation from other markets.
In a challenging industrial submarket for tenants with only 2% vacancy, Cresa assisted Valmet to pursue and execute on the larger building/consolidation strategy which included:
- Increasing in size from roughly 50,000 to 100,000 SF
- Advising Valmet on a short-term lease extension in the current location to mitigate timing risks and constraints
- Work with local utilities and electrical contractors to formulate a strategy to bring in additional needed power
- Confirm with the appropriate zoning authorities the suitability of the intended use; and
- Negotiate satisfactory lease terms with the building landlord