The combination of a heavy office, product/lab space and warehouse in the right combination proved to be difficult to find in and existing space, so we focused on a new build-out from shell options. However, finding a landlord that was willing to commit this amount in tenant improvements for a local credit company also proved challenging. Kee Commercial was able to find the perfect combination of a willing and motivated landlord who had the right opportunity in a desirable location. The result was a beautifully flowing build-out, open floor plan, with exposed ceilings that achieved the high-tech look, image and functional flow that the company was seeking. The long-term lease had significant front-end incentives and achieved the client’s financial objectives.

After an extensive search, Kee Commercial Realty made the client aware of the motivation of the landlord and great timing to get an extremely aggressive rate at this project due to the extended vacancy time. The client required a high level of finish-out which was included on a turn-key basis by the landlord at an unheard-of rate given the amount of the tenant improvement dollars spent by the landlord. And as it turned out, the rental rate was actually lower than most of the older existing spaces being evaluated. Additionally, we were able to negotiate eleven months of free rent on a ten year lease. The end-result was an impressive 9,300 square foot open office and approximately 5,000 square feet of customer service/shop area in the back, with ample warehouse space. The new facility drastically improved their image and location, and provided good freeway exposure for their future floor covering showroom.

The transaction was challenging in that there were a number of obstacles to overcome to reach a successful conclusion. First, Tire Universe was in a lease obligation for another year and it had to be terminated as a condition required by the lender for loan approval. Kee Commercial was able to get the tenant next door to take Tire Universe's space and thereby terminate the lease freeing-up Tire Universe financially. However, the tenant needed the spaced immediately and we could not deliver the space that quickly, so we were able to find them suitable temporary space down the street until our space became available. At the time the tenant next door was just about to lease an alternative building when we contacted them, so the timely was critical. The Termination Agreement had to be presented to the lender so they would approve the loan for the building purchase. Kee Commercial also provided the lender that was instrumental and creative in getting the loan approved in a timely manner and at excellent terms to our client with a minimized down payment SBA loan at a attractive interest rate. Working closely with this client for years, we knew exactly what they wanted in a building. Although this building had been on the market, there was a change of listing brokers and a dramatic drop in the asking price making it an excellent buying opportunity, which we were on top of and immediately presented it. When seeing the building for the first time the client's reaction was, "wow". You don't get a better indication of the perfect fit than that! Going from 40,000 SF to 100,000 SF was a big jump size, but it has helped our client grow his business, and they now utilizing the entire building and are carrying twice the inventory and have increased their sales significantly.

This project involved an exhaustive search for a site that would accommodate the building, provide a good centralized location for their employees and customers, have a good image, have favorable tax incentives, reasonable operating costs, be within their budget and provide a good long-term investment. Several locations were identified and evaluated prior to narrowing it down and ultimately choosing this location. Being aware of a new development in Flower Mound that was getting off the ground, we identified and ideal out-parcel for our client that was in the new business park and provided the identification and image they were looking for. Kee Commercial assisted with the contractor selection and pricing, setting-up a competitive bid, preliminary design and pricing proposals from several reputable design-build firms, in which one was selected. Ultimately it was decided that the client would hire its own architect due to the unique and creative design that they were seeking in the new building. The building turned out to be very impressive and a huge success for the client, as well as a model for their future facility expansions in other parts of the country.