|CLIENT||Ernest Packaging Solutions
|LOCATION||Las Vegas, NV|
|SERVICES||Brokerage & Advisory Services
|PROPERTY SIZE||43,208 SF Flex Warehouse|
|FINANCIAL BREAKDOWN||21% Savings over 67 Months|
Ernest Packaging Solutions, a California corporation, selected McKinney Advisory Group for assisting them in their real estate needs in the Las Vegas, Nevada. The relationship was developed as a result of previous transactions performed with other existing locations in California. McKinney Advisory understood the client’s growth objectives, business strategy, and other real estate overhead requirements which allowed for a comprehensive approach to the Ernest Packaging Solutions new requirement in Las Vegas.
Ernest Packaging requested that McKinney Advisory Group assist in relocation and negotiating a lease with lower overhead costs as well as survey market options to confirm the most competitive rates.
Ernest needed assistance with site selection and negotiating a competitive new lease. The client’s main priority was overhead reduction and finding an ideal long term location. Furthermore, location was exceptionally crucial for the client as the space required street frontage for marketing purposes and visual access to customers. Lastly, the client preferred a longer term of lease as to not interrupt business or inconvenience customers.
In order to compare their current building to the market options, McKinney analyzed the client’s existing space, side-by-side, with comparable locations within the market. McKinney performed extensive research of the industrial market, within a 10-mile radius to Ernest’s existing location, including off-market options. Five potential relocation properties were identified and McKinney initiated negotiations simultaneously. Leveraging the competition, created from the proposed alternative sites, McKinney was able to negotiate an attractive lease with lower rates resulting in substantial rental savings.