Challenge

Custom Nonwoven, Inc, one of two subsidiaries of their Korean parent needed to relocate their Allentown, Pennsylvania facility to a location within two hours of High Point, North Carolina to service their existing and growing customer base. The requirement called for a facility measuring between 40,000 to 60,000 square feet in a rectangular shape in a location offering competitive utility rates, aggressive incentives, and a skilled and/or trainable workforce.

Strategy

Custom Nonwoven, Inc. engaged the Colliers team to locate buildings within North Carolina, South Carolina and Virginia. The team created a competitive environment between building owners to negotiate the best lease purchase rate. The project became was very time sensitive as the company sold their Pennsylvania facility and had to move to a new location in a matter of a few months.

Services

The Colliers team quickly performed detailed market research and evaluated the market for available existing buildings. The facilities were evaluated based on cost, quality and risk parameters. After a tour of selected buildings and meetings with state, local economic development officials and utility representatives, the Colliers team and Custom Nonwoven, Inc narrowed the locations to two properties; one located in Greenville, South Carolina and one located in Thomasville, North Carolina. Colliers submitted a request to both states and communities to submit incentive packages; which were analyzed by the team and then delivered in a comparison format to Custom Nonwoven, Inc. officials.

Results

In 2013, Custom Nonwoven, Inc. chose a facility located in Thomasville, North Carolina because of the ability to negotiate a lease with an option to purchase with the property owner. The team successfully negotiated an incentive package which included property tax rebates from the County; cash from the state’s discretionary funds and a job training allowance.