Case Study

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Gregg Broujos
Managing Director & Founding Principal | Pittsburgh

Tenant Representation

Colliers International | Pittsburgh identified a relocation alternative outside of LabChem’s initial geographic search parameters that suited their space requirement needs perfectly.


LabChem Case Study       

The challenge
LabChem, a manufacturer of aqueous chemical solutions and reagents used primarily in laboratories and production processes, was started in 1986. The company initially occupied only a few thousand square feet of space but had deeply embedded themselves at their initial location by growing incrementally to 35,000 SF.

The client preferred to stay within its current submarket which offered very few existing facilities that met LabChem’s requirements.

The strategy

  • Gain a good understanding of LabChems’s operations and space requirements in order
    to assess the viability of existing facilities.
  • As the shortage of suitable existing facilities became apparent, the idea of expanding geographic parameters and new construction were considered along with the impact on costs.
  • Demonstrated the value of new construction versus existing structures relative to accommodating LabChem’s hazardous material needs.

The results
Colliers identified a relocation alternative outside of LabChem’s initial geographic search parameters that suited their space requirement needs perfectly.

The selected location is within a newly constructed building (the first in a new 300,000 SF business park under development) with the exact desired configuration and needed parking. The facility is located within 5 minutes of an interchange with Interstate 79 in Evans City, PA, a rapidly growing area with good amenities and demographics reflecting an appreciating market.

LabChem is now positioned to achieve growth from pent up demand for their products that could not be met at their prior location. Their projections call for revenue to double in the next three (3) to five (5) years.

The power of partnership
Colliers provided an efficient and thorough clearinghouse to entertain and assess all properties being actively marketed as well as "off market" facilities.

Introduced environmental and engineering consultants to advise LabChem specifically as it applied to their need for a blast resistant chemical storage room and worked to integrate those advisors with potential landlords and lease opportunities.

Educated the client on the nuances and pitfalls presented in each relocation proposal, and helped guide the negotiations to obtain an acceptable lease structure for the chosen facility.

 

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