28600 Fountain Parkway
Solon, Ohio 44139
Cushman & Wakefield | CRESCO Real Estate was approached to coordinate a complex consolidation of seven (7) separate leased properties designed to manufacture and distribute biochemical and reagents which included significant and sensitive laboratory rooms, climate control areas, spill containment, power and executive offices all under one roof.
CRESCO Real Estate was required to quickly evaluate all existing and build-to-suit alternatives within a five mile radius of the clients existing facilities and provide a full financial analysis of each opportunity. Final analysis would include the estimated cost of rent, operating expenses, tax abatements and other local incentives.
CRESCO Real Estate assembled a team of industrial specialists familiar with the geographical and physical characteristics of the requirements in order to provide the best guidance and market information from which the client could formulate an informed decision.
After compiling all of the information and evaluating the alternatives, the CRESCO Real Estate team and the client collaborated on negotiating a ten (10)year lease for a 226,000 SF Class A building. Despite increasing the client’s overall footprint by 15%, obtaining significant tenant improvement allowances and upgrading to a newer facility, the client’s overall facility costs declined by 10% over previous expenditures.
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