Levantina is a worldwide leader in the stone industry with headquarters in Spain and nearly 1,700 employees. Levantina USA, is headquartered in Dallas with additional locations in Atlanta, Chicago, Austin and Charlotte. In Dallas, Levantina USA houses its headquarters and showroom together in a 20,000 square foot building. The building owner expressed interest in reoccupying the building when the lease expires at year-end, forcing the company to relocate rather than renew or extend its lease. Additionally, Levantina USA occupies a 48,000 square foot warehouse with 2.5 years left on its lease. With mismatching lease terms, Levantina USA needed to reevaluate its strategy in order to consolidate operations, increase exposure and expand.
Cresa developed a strategic plan to consolidate all Dallas operations into one facility. During the site selection process, Cresa zeroed in on the Mercer Business Park, which provided easy accessibility, excellent signage visibility to enhance Levantina USA’s brand. Because the site was not yet fully constructed, it offered complete flexibility for Levantina USA’s configuration. Levantina USA signed a lease for 105,000 square feet, and Cresa was able to negotiate lease terms resulting in a significant cost savings at a competitive lease with additional concessions to include a significant tenant improvement allowance and several months’ free rent.