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FORTUNE INDUSTRIES
INDIANAPOLIS, IN
TENANT REPRESENTATION / ACQUISITION
Fortune Industries, headquartered in Indianapolis, IN, provides technology solutions to businesses categorized in three operating segments: Wireless Infrastructure, Ultraviolet Technologies and Electronics Integration, and Human Resource Solutions. Fortune entered into contracts with the multi-million dollar cellular segment: Sprint, Nextel, and Verizon. Fortune was to build cellular towers in Cleveland and Columbus, OH, and Kansas City, KA. The challenge arose when the towers needed to be up and operational in 60 days. Timing, location, and geographical area were equally important aspects to the success of this transaction.
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A P P R O A C H
- Joined with C&W Alliance offices in Cleveland, Columbus, and Kansas City to broaden the level of market knowledge and expertise.
- Within 48 hours, each C& W office provided Summit Realty Group with available property surveys for its respective area.
- Selected 8-10 properties from each market, and conducted thorough visits of each city to locate potential facilities near the targeted cell towers.
- Sent Request For Proposal to a short list of 2-3 properties in each market to create a competitive environment and to enable more favorable lease negotiations.
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R E S U L T S
- Summit successfully leased buildings in Cleveland, and Kansas City and purchased a building in Columbus, all within the 60 day time period.
- Fortune was very pleased with the quick turnaround; how fast Summit was able to pull together property surveys, travel to destinations for property tours, perform due diligence, and negotiate and close the deals.
- Each building ranged between 15,000 – 20,000 SF and was roughly 2 miles from its perspective cell tower.
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