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Project Outline
Oldcastle Glass operates 25 glass
fabrication facilities throughout the United States and Europe. Their
United Tempering Systems (UTS) facility in Vancouver, WA was rapidly
approaching lease expiration in a single-tenant building that they had
out-grown. They wanted a new facility to be located in the same County
as the existing facility due to the local tax treatment, employee
retention, and optimum transportation to and from their customer’s
locations.
Challenge
There were no existing single tenant
buildings available for sale or lease in the County that were the
size the Client needed. The permitting time for a new building in
the City of Vancouver and unincorporated Clark County was 12 months
longer than they could wait. They had neither development nor
construction expertise within their company.
Approach
Scott Fraser assembled a team for the
Client that consisted of a top architecture firm, experienced
contractor, a permitting/planning expert, and a construction manager.
While costs were being estimated for the 70,000 square foot concrete
tilt building, Scott Fraser negotiated a fast-track permitting process
commitment from a small city, Battle Ground, which had wanted industrial
development but lacked permitting experience for this type of project.
Scott Fraser negotiated a 7-acre land purchase that gave special pricing
for the Client, and provided the first “seed” building for the owner of
a new industrial park. The team met regularly to keep the project on
track.
Results
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The project was completed on time
and on budget.
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All-inclusive building cost:
$58.00/sf.
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7 months from start of project to
occupancy.
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The Client’s management resources
were not distracted from their core responsibility during planning
and construction.
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The Client’s occupancy costs were
reduced and fixed because they own the property. By taking
advantage of their new additional production capacity, the Client
has been able to increase revenues.
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Vancouver, WA
Services Provided
Tenant Representation
Lease vs. Buy Analysis
Site Acquisition
Build-to-Suit Services
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