|SERVICES||Brokerage & Advisory Services
|PROPERTY SIZE||26,637 SF Flex Warehouse|
The Client, a national manufacturer of packaging materials & services, selected McKinney Advisory Group to assist with their real estate needs in Boise, ID after completing multiple prior transactions with McKinney in California, Oregon, Arizona and Texas. McKinney’s extensive knowledge of the client’s business allowed for a better understanding of the client’s objectives, growth and business strategy. This allowed the McKinney team to take a more comprehensive approach to the client entering into a new market.
The first challenge was the space requirement. The McKinney team had to determine the optimal size for the space in order to begin operations. The location required heightened traffic flow and ease of access. Boise is a very fast-moving market, as rental rates were on the rise. The client’s main objective was to locate a space which had all its necessary requirements as quickly as possible in order to promptly begin production and create cash flow for the company.
In order to determine what size of a space would be appropriate, McKinney and the client compiled a comprehensive report providing an overview of the market and surrounding competitors. This report indicated that the Client would require a small space with a short term lease in order to maximize profitability. The McKinney team researched the industrial/Flex market within Boise, including off-market options. Eight potential properties were identified. McKinney initiated negotiations simultaneously to create leverage for the client. This allowed McKinney to negotiate a short-term lease with lower rates than the market average, thereby allowing the client to minimize overhead costs and start its new business endeavor.