Case study: Moving sites into a single Tucson industrial space for growth
Nano Materials International Corp. develops and commercializes products based on nano-materials and nano-processes. Its aluminum diamond metal matrix composites provide thermal management for the electronics industry.
Challenge
The company originally leased several locations from the University of Arizona as it investigated the feasibility of commercializing its technologies and then launched pilot scale production facilities.
It had outgrown those spaces and wanted to consolidate its operations into a Tucson industrial space where it could continue to expand. Company site selectors contacted Commercial Real Estate Group of Tucson to lead the search for a space with enough electrical power to match its growth.
Response
CREG Tucson started its methodical search by finding out exactly what NMIC needed. Using his deep knowledge of the market, tenant rep Michael Coretz created a list of candidates. He used a binder to gather all of the detailed descriptions of each property and an analysis of costs and savings. He also organized site tours of all the candidate locations.
Once the company chose a potential Tucson industrial property, Coretz helped put together a proposal to purchase, provided a list of trusted property inspectors, helped negotiate the purchase and remained available to help with closing and occupancy.
Results
While the selected property wasn’t perfect, the building checked almost all the boxes on NMIC’s list. Coretz was able to secure the seller’s promise to install an upgrade to the building’s solar power system and a new inverter. The savings for the company from that promise helped seal the deal on the transaction.
Take-aways
- Consolidation of locations is a task that requires detailed knowledge of space and infrastructure needs. Find a Tucson industrial space broker who has great skill in space planning.
- Prioritize everything you need in your new space. That way you can make good decisions about what the building must have and what you can compromise or construct to make the building work for you.
- Don’t dismiss a building out of hand if it’s not ideal. You might find a seller willing to negotiate major issues in order to make a sale.
- Secure a commercial real estate broker who has contacts with vendors that can help you perform activities such as property inspections, space improvements and infrastructure upgrades. That will save you time and money because you can already trust the vendors.
Ask for CREG Tucson’s “Relocation Guide” that details the steps to moving into new Tucson space, from site search to reopening. Contact me for a complimentary consultation of your relocation needs, +1-520-299-3400.
10 Keys to Buying Space in Tucson
Read all of CREG Tucson’s Case Studies.