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Marine Harvest acquires new processing plant to sustain growth

Case Study

Challenge: Marine Harvest (NYSE: MHG) is one of the largest seafood companies in the world and the world’s largest supplier of farmed Atlantic salmon. When Marine Harvest was awarded a major new business contract, the company decided it was time to add a third processing plant in the U.S. to support its growth.

Marine Harvest needed to identify the best property to accommodate the supply chain strategy for the new processing facility while providing space for future expansion. The facility had to be in close proximity to the Dallas/Fort Worth International Airport and required parking capacity for large vehicles.

Marine Harvest needed to secure a facility quickly in order to fulfill the new contract. In addition to the urgent timing challenge, there was a shortage of available facilities with existing freezer/cooler space, which was a requirement to meet Marine Harvest’s needs.

Strategy: Colliers performed a comprehensive survey across multiple markets in the central and southern U.S., outlining all available food processing facilities as well as build-to-suit options. Due to limited market availability and the client’s accelerated timeline, the Colliers team provided in-depth market intelligence for the food processing facility marketplace to provide valuable context in the decision-making process.

Given the limited inventory of existing freezer/cooler space, the Colliers team also connected Marine Harvest with the additional specialists they needed in the due diligence and construction process — refrigeration consultants and contractors.

Result: Despite the challenges at hand, the Colliers team was able to identify a viable facility option in Arlington, TX and leveraged a longstanding relationship with the landlord, Global Logistics Properties, to secure the space for Marine Harvest.

During the 10-month planning and lease negotiation phase, Colliers negotiated a 318% increase in the tenant improvement allowance, which enabled Marine Harvest to make the necessary adjustments to ensure the space fit the company’s economic and business goals.