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Project Outline
Michaels Stores, Inc., is the nation’s largest retailer of arts and
crafts supplies. They have 885 stores located in 48 states and Canada.
Approximately 61% of Michaels’ merchandise is shipped through their
distribution network, and they currently have six distribution centers
across the nation.
Michaels recognized the need for a distribution center in the Pacific
Northwest and engaged GVA Kidder Mathews to evaluate build-to-suit
alternatives along the I-5 Corridor in Washington State.
Services Provided
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Site analysis and selection
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Tenant representation
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Lease analysis and consultancy
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Build-to-suit coordination
How We Added Value
GVA Kidder Mathews conducted an extensive market search to find the best
location and lease terms for Michaels’ Northwest distribution center.
GVA Kidder Mathews represented Tarragon in the purchase of 105 acres
from the Port of Centralia, and they then reached terms with Michaels to
construct a 715,000 square-foot build-to-suit distribution center, which
was completed in early 2007, on the north half of the site. |
