Case Studies
Big Savings on Zebulon Warehouse Space: Advanced Plastiform, Inc. Case Study
The Goal
To assist Advanced Plastiform, Inc. to secure 50,000 square feet of warehouse space in the Triangle area on a budget.
The Situation
Advanced Plastiform, Inc. (API) specializes in custom plastic thermoforming for a range of industries and needed new warehouse space to handle expanded manufacturing operations. They approached Rich Commercial Realty/KW Commercial with the challenge to locate a facility of at least 50,000 square feet. API was open to new construction or an existing building; however the new site would need to offer enough space to expand in the future.
The Solution
Rich Commercial Realty simultaneously began a comprehensive market survey of existing warehouse space in the area between Eastern Wake County and into Franklin County while searching for unimproved land that would accommodate new construction in the same area. Agent Tripp Lineberry reached out to his contacts to receive bids for new construction to have ready should API select an undeveloped site. After locating an existing facility in Zebulon that was listed close to the goal price, Lineberry moved quickly to ensure due diligence was completed prior to a formal contract to keep the deal moving forward according to the client’s aggressive timeline. Lineberry kept in close communication with both buyer and seller’s agent throughout the process to ensure required improvements were completed on time so that API could receive accelerated depreciation, which was the key to finalizing the deal.
The Result
Rich Commercial Realty negotiated a significant price reduction and inclusion of office furniture and fixtures in the transaction. API finalized the purchase in time to earn accelerated depreciation and purchased the building at nearly half the cost of what they were looking to spend for a similar space in Raleigh.
“Rich Commercial Realty was forward-thinking and went above and beyond what was expected of them to maintain our timetables, which was imperative in getting the deal closed,” said Chris Jolly, owner of Advanced Plastiform, Inc. “They were professional and always available. I felt like our company was their number one priority.”
