Corporate Headquarter Relocation – TENANT REPRESENTATION
Masters Medical Inc.
Strategic Relocation Planning (SRP) is a system designed by The JC Commercial Realty Team (JCCRC) which was used to benefit Masters Medical Inc. in their Corporate Headquarter and Distribution Center Relocation.
SITUATION/PROCESS
- Strategic Relocation Planning (SRP) is a system designed by The JC Commercial Realty Team (JCCRC) which was used to benefit Masters Medical Inc. in their Corporate Headquarter and Distribution Center Relocation.
- Masters Medical was operating out of a functionally obsolete location that they owned in Davie, Florida. Warehouse ceiling height were 33% lower than the market was delivering and the space was about 50% larger than they needed.
- The JC Commercial Realty Team negotiated with many prospective buyers of the existing facility. Once the highest paying buyer was identified and the JCCRC Team negotiated the proper time frames needed by Masters Medical to relocate their pharmaceutical operation. Simultaneously, a full Broward County search was conducted for existing locations and future industrial flex developments.
- A full-county property tour was conducted to educate the client on the overall condition of the market. From that tour, a Short-List of properties was established based on efficiency, pricing, work force and logistics.
- A detailed Request for Proposal outlining the Client specs and requirements was drafted and delivered to all Short-Listed Landlords and Developers. All responses were aggressively negotiated over the ensuing months.
- Keeping more than one option alive on behalf of the Client is our Best Practice. We kept two institutional owners engaged in the process until the very end and as such Masters Medical was insured the best value on items like, rental rate, construction allowance, free rent, lease term, design and deposits.
RESULTS
A long-term lease for 5,060 square feet was secured at Weston Business Plaza with Principal Global Life as landlord. The relocation provided the proper square footage, increased ceiling height, more efficient equipment layout, enhanced materials handling, much quicker truck access to I-75 & the Florida Turnpike, turn-key offices with an exceptional local work force.
Work performed in this case study was completed by JC Conte of the JC Commercial Realty Team
