|CLIENT||Ernest Packing Solutions|
|SERVICES||Brokerage & Advisory Services
|PROPERTY SIZE||85,566 SF Flex Warehouse|
|FINANCIAL BREAKDOWN||Leased Building Space at 30% Savings|
Ernest Packaging Solutions, a California corporation, selected McKinney Advisory Group for assisting them in their real estate needs in the Sparks, Nevada. The relationship continued from previous transactions completed for other existing locations in California and Nevada. McKinney Advisory’s specialty with portfolios helps us understand 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 Sparks.
Ernest Packaging requested that McKinney Advisory Group assist in their relocation and negotiation of 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. The location was exceptionally crucial for the client, their business requires a space near trucking routes for ease of shipments. Lastly, the client preferred a longer term of lease to avoid interruptions in business or inconvenience for 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 8-mile radius to Ernest’s existing location, including off-market options. Six 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. The result this transaction and substantial rental savings over the life of the term helps the client plan for long term growth.