|
|
NATIONAL PRINTFAST
INDIANAPOLIS, IN
TENANT REPRESENTATION
National Printfast is a national media supplier and printer, specializing in engineering, drafting, surveying, and architectural print media. Under new ownership, the company was analyzed from the top down to identify areas for improved efficiencies. Its current facility was high on the list of areas for improvement. The space was poorly configured, including excessive yet inefficient office space and improper load areas. With new printing equipment on order, additional space was also needed. Also, the rental rate was well above current levels.
|
|
A P P R O A C H
- Summit Realty Group met with National Printfast to conduct a comprehensive needs analysis, identifying elements of an ideal facility.
- With requirements clearly defined, Summit conducted an exhaustive search for the most suitable facilities within the client’s preferred geographic location.
- Concurrently, Summit analyzed expansion potential at the existing space.
- After a thorough analysis of all sites, three options were pursued – including a reconfiguration of the current location. A comprehensive Request for Proposal was extended to the finalists.
- Final sites were evaluated on physical and economic criteria. Summit provided an in-depth analysis of each site, including sites’ net effective rate per square foot.
|
|
R E S U L T S
- Based on the thorough site selection analysis, National Printfast opted to renew and expand at its existing facility, going from 24,000 SF to 33,600 SF.
- While its space increased by 40%, National Printfast saw only a 2% increase in the monthly rental rate – including 3 months of abated rent.
- The new lease deal also included landlord improvements of $150,000, which enabled National Printfast to reconfigure the facility and upgrade the air conditioning system.
- Summit also secured expansion and renewal rights, providing National Printfast both flexibility and security in the future.
|
|
|
|
|
