The Situation
We were originally retained in this relationship to consult on the possible acquisition of a business that included a real estate component. In this situation, it was real estate that was a larger than normal concern. Overall, this project was not a bad play if all the cards fell right. However, once we dug into the municipal regulations, compliance issues that could come up, along with market dynamics, location and property condition, the recommendation became clear. This was not an ideal situation.
But the opportunity to establish a manufacturing facility that could support southeastern region sales and distribution was still a viable opportunity to pursue. We began a thorough review of the SE region and physically viewed several sites that met specific criteria that we had established as a team.
The Solution
- We completed a survey of several potential sites in multiple states that could work for the client.
- As it relates to Florida, we narrowed our focus to include two municipal locations.
- Each of the municipalities had multiple site options that met our needs.
- We completed detailed analysis of our site finalists which included the project cost review of the renovations needed to accommodate our clients occupancy needs.
- We completed detailed analysis of the strength of the local labor market as wells as the incentive packages that would be available to our client.
- Secured a long-term lease for a facility in excess of 70,000 square feet of along with expansion potential for future growth.
