|LOCATION||El Cajon, CA|
|SERVICES||Brokerage & Advisory Services
|PROPERTY SIZE||27,000 SF Manufacturing Warehouse|
|FINANCIAL BREAKDOWN||21% Savings over 24 Months|
Ametek, Inc., a Delaware corporation, selected McKinney Advisory Group for assisting them in their real estate needs in the El Cajon area of San Diego County. The relationship was developed as a result of effectively listening and learning from the executive management at Ametek’s corporate headquarters to their needs and business strategy.
Ametek requested that McKinney Advisory Group assist in first renegotiating a lease with their current landlord to reduce operating costs for the El Cajon location as well as survey market options to confirm the most competitive rates.
Ametek’spreferred course was to stay in their current location with a newlease on more favorable terms. The client sought both reductions in rent and maintenance obligations. In order to compare their current building to the market options McKinney needed to analyze the client’s highly specialized build-out within the existing building, and create a competitive set of possible relocation options.
McKinney performed extensive research of the industrial market, within close proximity to Ametek’s existing location, including off-market options. Two potential relocation properties were identified and McKinney initiated negotiations simultaneously on behalf of Ametek. Leveraging the competition created from the proposed alternative sites, McKinney was able to negotiate an attractive renewal for Ametek, resulting in substantial rent savings prior to the end of the current lease. McKinney also performed selective language carve-outs which will result in future savings to client associated with replacement of building fixtures and equipment.