Riad Tile is a Dallas-based curated artisan tile and stone retailer that ships globally source products to customers locally, nationally, and internationally. Operating for years as an online retailer, Riad Tile determined it was time to open its showroom facility, warehouse, and distribution center. In Q1 22, Riad Tile was introduced to Cresa through a client referral to discuss their business goals and initiatives as well as how to approach a tactical commercial real estate strategy.
From the initial engagement, Cresa focused on Riad Tile’s location parameters, financial constraints, customer base, and overall growth plans. Leveraging internal market knowledge, Cresa took a macro approach to review 23 potential, qualified options. After careful consideration, the Team worked to filter and compare select locations based on Riad Tile’s business, labor, and logistics requirements.
Cresa’s initial survey evolved into a targeted site selection report, complemented by a financial analysis to examine underlying costs for each option. Empowered with the actionable data and information, Riad Tile began to focus on two specific locations, collaborating with Cresa to enter into the RFP process and lease negotiations phase.
In what continues to be a tight industrial real estate market throughout Dallas-Fort Worth, Cresa maneuvered to guard the location, and Riad Tile, against other interested occupiers to advance the negotiation process. Cresa was able to successfully negotiate a direct, turnkey construction lease with an “at-market” rental rate. From initial engagement to the final lease execution, the efficient collaboration between Riad Tile and Cresa streamlined the process to complete and realize a transaction in less than four months.
This was my first time leasing warehouse space, and I was so fortunate to have been referred to Alex Coe. His experience was a major asset as he was able to guide me to locate the best suitable space for our business. Cresa’s service didn’t stop when we signed the lease. Alex continued to support our firm by connecting us with insurance, telecom and facilities vendors to ensure the space would be fully operable. Alex provided value-add intelligence throughout the process. I cannot thank Alex enough for all he has done and look forward to working with him in the future.Kale Butcher | Founder and Owner