|CLIENT||Ernest Packing Solutions|
|SERVICES||Brokerage & Advisory Services
|PROPERTY SIZE||48,675 SF Flex Warehouse|
|FINANCIAL BREAKDOWN||15% Savings over 5 Years|
Ernest Packaging Solutions, a California corporation, selected McKinney Advisory Group to assist with their real estate needs in Houston, Texas based on Ernest’s relationship with McKinney on transactions in California, Oregon, and Nevada. McKinney Advisory’s specialty with large portfolios helped us to understand the client’s growth objectives, business strategy, and other real estate overhead requirements. This allowed for a comprehensive approach to Ernest Packaging Solutions’ existing requirement in Houston.
Ernest Packaging needed assistance with renewing their lease at their current site and negotiating a competitive new lease term. Houston is a growing market, with competitive rates. The client’s main priorities were to reduce overhead and reside their current location. Remaining at their site was exceptionally crucial for the client, as their business requires a space near trucking routes for ease of shipments.
McKinney analyzed the client’s existing space, side-by-side, with similar locations within the market. McKinney performed extensive research of the industrial market, within a 12-mile radius to Ernest’s existing location, including off-market options. McKinney identified nine potential relocation properties. Leveraging the competition created from the proposed properties, McKinney was able to negotiate with Ernest’s current landlord an attractive lease with lower rates. The result of this transaction gave the client 15% cost savings over the 5 year term, helping the client plan for potential growth and expansion.