CORPORATE HQ RELOCATION – TENANT REPRESENTATION
Blue Aerospace – A Heico Company
- 31,580 Square Feet
- Turnkey Office Finish
- Nob Hill Road Frontage
- 100% HVAC
- Dock High Loading
- Hurricane Glass – Redundant Power
- 25% Reduction in p.s.f. Occupancy Costs
- 33% Higher Ceilings
- Improved Departmental Flow
Strategic Relocation Planning (SRP) was the service line provided to Blue Aerospace – a Heico Company (NYSE – HEI). BA was leasing 11,000 square feet with an Institutional Landlord (IIT). They wanted to be properly positioned to relocate their Corporate Headquarters at market rates.
• Blue Aerospace was leasing an expensive less functional space as their business continued growing. The JC Commercial Team was formally engaged after several strategy meetings on how the SRP would be used to properly position them between several viable landlords.
• At the time, market conditions were turning in our favor as several industrial buildings were under construction.
• An extensive property search was conducted while simultaneously letting the incumbent landlord know that JC Commercial was out in the market with BA.
• Once a short list properties was selected, a detailed RFP was sent to each of the existing landlords and developers. One of the developers was their current landlord.
• RFP terms were negotiated extensively with one landlord and two developers. Everybody fought hard to have this blue chip Tenant.
• The winning landlord delivered an extremely competitive rental rate with free rent and a “Turn-Key” build out for Blue Aerospace.
Blue Aerospace moved into their new 32,500 s.f. Corporate Head Quarters on time with turnkey office finishes, 100% air-conditioned warehouse with 32-foot clear height, above average parking, frontage on Nob Hill Road, backup power and hurricane impact glass and roll up doors. Occupancy costs on a per square foot basis went down by over 20% while cubic storage and racking aisle efficiency increased by over 25%.