2660 Sarnen St

2660 Sarnen St warehouse Otay mesa lease renewal
Client
  • 2660 Sarnen St
Space
  • 70,000 sq. ft.
Industry
  • Industrieel
  • Transport en logistiek
Locations
  • San Diego
Services Provided
  • Transactiebeheer
Cresa Team
  • Justin Walseth

Client Objectives

Maintain Client Service & Continuity of Operations for prominent 3PL /Transportation Company in a rapidly rising market with new the building owner.

Results

Cresa was engaged 9 months prior to the client’s lease expiration. Market research found of the 8 buildings presented to the client, only one building provided the required truck circulation, truck parking, economics, and delivery. Cresa simultaneously engaged the existing landlord in negotiations while pursuing an alternative site that would bring $450,000 in savings after relocation costs were considered.

 

At the 9th hour after the relocation deal had been agreed upon, the existing landlord offered abated rent to bridge the deal gap. Notably, the economics achieved yielded more free rent than other lease comparables. The economics achieved was only achieved through a private agenda, where Cresa developed a strong, credible relocation scenario.

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