Challenge
Banta Corporation, a Fortune 1000 company engaged in international printing and technology services, required a 250,000 sq. ft. air conditioned distribution center requirement in Houston, Texas within 90 days.
Solution
The company engaged Allegro to identify, select, and negotiate a lease transaction to satisfy this requirement. Unfortunately, at the time, there were no available facilities in the marketplace that met their needs. Alternatively, Allegro identified two 125,000 sq. ft. distribution centers, each with adequate land to expand to 250,000 sq. ft. We facilitated a leveraged negotiation process with both developers based on immediate occupancy in the existing space and an around-the-clock construction process on the expansion space. The client met its aggressive 90-day timeline being able to occupy the first half of the selected facility. A competitively negotiated lease structure was put in place. Further, Allegro’s direct fee arrangement was a small fraction of the real estate commission available to the tenant’s representatives. Therefore, the client received a compensation credit far in excess of the fee. Since 1996, the Allegro has provided continued service to the company’s diverse real estate portfolio comprised of approximately 75 facilities over 1,000,000 sq. ft. in 35 states and as many as 15 projects each year.
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