CHALLENGE
Spectra Gutter Systems of Atlanta, the largest maker of gutter products within the U.S., saw the Piedmont Triad as an ideal location for expanding its national footprint of manufacturing and distribution centers. They tasked Linville Team Partners with helping them find a suitable property for their needs. After the Second Harvest Food Bank of North Carolina announced relocation plans from its former warehouses at 3610 and 3620 Reed Street, Linville Team Partners presented Spectra with the opportunity to purchase. The property was 40,000sf and would leave Spectra with 25,000sf extra square footage.
ACTION
LTP identified an opportunity for Spectra to offset its costs of property ownership by leasing the remaining 25,000 square feet. With many businesses looking to take advantage of the region’s resources, this would be a low-risk opportunity for the owner. Furthermore, Spectra has the space for production expansions that may occur down the road. Soon after Spectra purchased the property, Linville Team found a tenant to lease the remainder of the space.
RESULT
Linville Team Partners’ creative approach resulted in the following for the client:
- Expanded manufacturing and distribution operations in the desired location.
- Uncovered profit potential that offset costs of property ownership.
- Maximized profit potentials with tenancy secured before closing.
- Leased the property quickly, creating cash flow.