Nidec
- 10 East Granger Road
Brooklyn Heights, Ohio 44131
- Client: Nidec
- Square Footage: Vacant Land
- Real Estate Type: Industrial
- Services: Tenant Representation
Project Overview:
Nidec Industrial Solutions, a manufacturer of electronic motion control systems, had a goal of combining three different types of operational facilities into one custom designed building. They hired Cushman & Wakefield | CRESCO Real Estate and the Barna Caplan Team to assist with analyzing their operations and budget requirements for a new industrial facility in Northeast Ohio.
Challenge:
Nidec was operating out of 3 buildings in Independence and Valley View, Ohio. Their local corporate offices occupied 16,480 SF, which included a large area for engineering. A 30,636 SF manufacturing and assembly plant with air conditioning and 14’ ceilings. Lastly, 25,600 SF manufacturing facility requiring a 20 ton crane with 28’ under hook. Their business solution was to
combine office and manufacturing into one building to optimize productivity, provide a better workplace for their employees and stay in close proximity to their current locations.
Solution:
The Barna Caplan Team initially knew that new building construction was a focus and formed a list of available land sites. The Barna Caplan Team knew it was important to show Nidec existing buildings that were in their budget and met their modern facility needs.
Results Achieved:
After touring multiple properties with the Barna Caplan Team, Nidec decided to focus on a vacant land site in Brooklyn Heights controlled by Geis Companies. The site has visibility from I-480, but required a zoning change. For over a 12-month period both Nidec and the Barna Caplan Team worked with Geis on many renditions of planning and value engineering to deliver the required facility. They oversaw obtaining the governmental economic assistance, which was an absolute necessity for the viability of the project. The Barna Caplan Team worked with Brooklyn Heights on an income tax credit and the local school district to obtain RE Tax Abatement. Lastly, the Barna Caplan Team also approached Greater Cleveland Partnership and Team NEO for state assistance. The project will pay new taxes of over $219,000 annually, inclusive of saving $2,642,000 over 15 years. Mayor Procuk put a tremendous amount of time and effort into the project. Without the superlative efforts of all involved the $10 + million project would not be a reality. The 2.5 year project was delivered to Nidec the first quarter of 2020.