Case Study

New Jersey Offices

Parsippany Office
Morris Corporate Center I
300 Interpace Parkway
Building C, 3rd Floor
Parsippany, NJ 07054
USA
Main: + 1 973 299 3000

David A. Simon, SIOR
Executive Managing Director | Market Leader | NJ
david.simon@colliers.com

 

Princeton Office
500 Alexander Park
Suite 101 
Princeton, NJ 08540
USA
Main: + 1 609 269 1111

Thomas Romano
Executive Managing Director | Princeton
thomas.romano@colliers.com


Woodbridge Office
10 Woodbridge Center Drive
Suite 520
Woodbridge, NJ 07095
USA
Main: + 1 732 807 0400

David A. Simon, SIOR
Executive Managing Director | Market Leader | NJ
david.simon@colliers.com


When MHI Canada Aerospace, a subsidiary of Mitsubishi Heavy Industries, outgrew their plant, the race was on to secure a custom manufacturing facility in seven short months.

The challenge

MHI Canada Aerospace, a subsidiary of Japan-based Mitsubishi Heavy Industries, had clearly outgrown its 90,000-square-foot manufacturing facility in Mississauga, Ontario, because it could not handle further orders from Japan. However, new requirements for an expanded facility included large bay widths and increased building clear heights, narrowing the field of options, which MHI said must remain in Mississauga.

The strategy

Colliers International’s industrial tenant representation specialists narrowed the field of options based on MHI’s requirements and a December 2011 move-in date dictated by production requirements. In surveying the market for suitable properties, Colliers’ team reached out to Mississauga landlords and developers to uncover options for a facility that must be constructed and ready for occupancy by the end of 2011. A 9.34-acre site in Orlando Corporation’s Airport Business Park, just east of Pearson International Airport’s Terminal 3, was identified. It included an existing underutilized building that had already been considered for demolition and repositioning.

Colliers worked with MHI to consider various building configurations, from 120,000 square feet to the eventual 270,000 square feet that was eventually constructed. Features were systematically considered to arrive at the preferred project, and lease terms and purchase options were negotiated while building refinements were underway. Overseas documentation input and approvals finally arrived in April 2011.

The results

Despite various obstacles during construction, the state-of-the-art, custom facility was successfully delivered on December 15, 2011 after only seven months. With the involvement of Mississauga Mayor Hazel McCallion, 400 skilled jobs were retained in the city. This project earned the real estate industry’s NAIOP REX (National Association of Industrial and Office Properties – Real Estate Excellence) Award as 2011 Industrial Development of the Year.

Woodbridge
10 Woodbridge Center Drive, Suite 520 Woodbridge, NJ 07095 United States | Tel: +1 732 807 0400