Corporate headquarters sale-disposition with short term leaseback

Client Objectives

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:

• offload the former HQ;
• negotiate a short-term leaseback with the Miami property’s new landlord in order to implement an effective relocation strategy for servicing its distribution channels; and
• create a marketing plan that would both retain local Miami employees and attract skilled Memphis talent.