Walgreen Co.
Provided site selection services for locating a 100-acre site to construct up to one million square feet of distribution center needed to service its South Florida stores and a Puerto Rico distribution center and its associated stores.

Eckerd Drug Company
Provided acquisition and disposition services for combining five existing, but scattered, distribution centers into one large subleased facility, and brokered the sale of two owned distribution centers.

Oakmont National Development
Provided site selection services for locating and negotiating a 45-acre site for development of spec-built, portfolio warehouses held for lease.

Walgreen Co.
The Business Challenge
Provide site selection services for a 100-acre site to build up to one million square feet of distribution center to service South Florida stores and Puerto Rico. The site had to be accessible on Florida’s Turnpike so client could pull double 53’ trailers between the existing and the new distribution center, and near a seaport to service the Puerto Rico distribution center via container ship.

The Solution
Within six months, an ideal site in Palm Beach Park of Commerce was located, negotiated, and closed. A cooperating local broker, a County Commissioner, and EDC representatives assisted in getting over hurdles presented by adjacent land owners, county permitting issues, and state DRI regulations. A doubles “make-up” area was within a few miles of the existing DC in Orlando and the new DC site in Palm Beach. In addition, the adjacent Bee Line Highway ran from the Palm Beach Park of Commerce directly to the Port of Palm Beach.

The End Result
A six hundred fifty thousand square foot state-of-the-art distribution center was built, including a one hundred twenty thousand square foot, 100-foot clear, picking module. Enhanced logistical opportunities between distribution centers in Orlando, Palm Beach, and Puerto Rico were achieved.

Eckerd Drug Company
The Business Challenge
Consolidate four existing distribution centers in Orlando Central Park and one in Largo, Florida, into an existing facility. Three of the facilities were owned and two were leased.

The Solution
A six hundred thousand square foot distribution center with a thirteen-year remaining term, and a twenty-year renewal term, was being vacated. A sublease listing agreement was obtained, and the sublease opportunity was presented and ultimately negotiated. The two owned facilities in Orlando were marketed for sale and sold to a REIT and to a private investor, simultaneously finding a tenant and negotiating an eleven-year lease for the investor. The two leased facilities were at the ends of their respective leases and terminated.

The End Result
The new distribution facility provided needed office space, rail service, a truck maintenance facility, extensive trailer parking, air conditioned high- pile freezer/cooler and dry storage, and vacant land for expansion. The long- term sublease and renewal was achieved at a below-market rental rate and terms.

Oakmont National Development
The Business Challenge
Provide site selection services for an Atlanta-based developer to build speculative warehouses held for lease. A 50+-acre site was located along the Western Beltway in northwest Orange County. The site was adjacent to the confluence of the to-be-built Maitland Boulevard extension and the Western Beltway, a perfect location for a new industrial park. However, the Expressway Authority planned to condemn and take part of the site for an access ramp to the Maitland Boulevard extension, and the taking had not taken place and no time schedule had been set for the taking. In addition, the site was not visible from the Beltway because of a high berm between the site and roadbed.

The Solution
Multiple extensions of a due diligence period were negotiated, and participation of the seller in meetings with the Expressway Authority to accelerate the pricing of and taking of 5+-acres of land for the ramp was achieved. Extensive engineering for the removal of the berm and the division of the material between the buyer and the Expressway Authority was negotiated. A sale of the associated material to the Expressway Authority’s road-building contractor was achieved, resulting in a site ready for development.

The End Result
Provided extensive underwriting information to buyer, and buyer was able to close on the site, and plan and design the site for five investment-grade warehouse facilities.