Challenge

Bahnson, Inc. engaged Colliers International to assist with a warehouse / distribution requirement in Winston-Salem, NC. In addition to the typical warehouse needs Bahnson needed a facility in which they could utilize outdoor storage for equipment parking and wanted to stay within close proximity to their existing warehouse / distribution and office location within the Westpointe Business Park in Winston-Salem.

Strategy

The warehouse / distribution component of the search was straight forward; however the specified location and ability to utilize outdoor storage posed a challenge. Outdoor storage areas occasionally are difficult to come by and sometimes zoning dictates the amount of outdoor storage and what can be stored outside. After confirming the product and exact size of the outdoor storage requirement, the Colliers team went to work in putting together a comprehensive available building survey for Bahnson, Inc. to review. Knowing there were going to be limited options, we would need to create a competitive landscaping for Bahnson, Inc. to receive an advantageous deal.

Services

The Colliers team quickly performed detailed market research and evaluated the market for available existing buildings. After a thorough search only a limited amount of buildings were identified as potential options to consider and tour which included a space located within the building they were currently occupying that would have access to an outdoor storage area.

Results

The space located within their existing building became a frontrunner due to proximity and the outdoor storage opportunity. The Colliers team negotiated with the current landlord a lease in which their current lease (which still had remaining lease term) was replaced with a new lease of the space with the outdoor storage. A very aggressive lease rate was negotiated for the relocation and expansion along with tenant improvements that were favorable to Bahnson, Inc.