Challenge
For decades, Myers Tire Supply has served its customers from corporately owned distribution facilities located in sales districts throughout the United States. Myers was aiming to accomplish two primary objectives: 1) to extract capital from owned real estate assets to be redeployed into core business initiatives; and 2) to improve customer service and accessibility through better located leased facilities.
Solution
On a market by market basis, Allegro successfully selected and managed listing agents and directed the disposition of the owned assets. Concurrently, Allegro managed the tenant representation process to identify leased facilities reflective of customer locations and employee residences. Additionally, the new facilities were built out to meet the updated requirements. Allegro assisted the client in achieving its quarterly financial goals as well as repositioned its real estate portfolio for future business success.
