|CLIENT||Emser Tile, LLC|
|SERVICES||Brokerage & Advisory Services
Lease Renewal Negotiations
|PROPERTY SIZE||16,285 SF Flex Warehouse|
Emser Tile, LLC, a premier designer, producer and marketer of floor, wall, counter tile and natural stone options founded in 1968, selected McKinney Advisory Group to assist with their real estate renewal negotiations at its showroom and warehouse space in Portland, Oregon. McKinney Advisory Group focused on Emser Tile’s real estate objectives of lowering overhead costs and provided a comprehensive overview of the Portland, Oregon market.
Emser Tile requested McKinney Advisory Group to assist in the negotiations of its second and final 5-year renewal option. Due to the 45 day window before Emser’s exercise of the option, time was short to gather accurate market data and negotiate lease terms with the institutional landlord Further, McKinney’s directive was to decrease overhead, obtain much needed building signage and allow for increased space flexibility.
In order to compare Emser Tile’s premises to alternative options, McKinney Advisory researched comparable locations utilizing a 5-mile radius from Emser Tile’s existing location. Advisors toured each comparable property and performed a side-by-side comparison prior to meeting with Emser Tile. Given considerable market data and creating competition in the marketplace, McKinney Advisors met with existing landlord to negotiate and finalize the lease renewal.
By proactively driving and understanding the Portland warehouse market, the McKinney team successfully negotiated a 7% reduction in the rate for Emser Tile. Despite not being included in the initial lease renewal terms McKinney was able to acquire the right to install monument signage and building signage for greater visibility.