| TRANSACTION TYPE : Build to Suit for Lease | TRANSACTION SIZE 120,000 s.f. | CLIENT Valassis | MARKET Mexicali B.C. | LAND AREA 240,000 s.f. |
Objectives
Our objective was to locate our new industrial facility as close to the Calexico Commercial Port of Entry as possible. There are only two industrial parks in the immediate vicinity and this did not give us the range of options or negotiating leverage we were seeking. NAI carefully explained the process we would follow to achieve our objective and began taking the first steps to insure that we would not miss any opportunities.
Results
- NAI managed full site selection and bid process, including participation of all major REITS operating in Mexico.
- Conducting all negotiation rounds including the final negotiation with the selected industrial developer; as well as structuring and negotiating the lease contract.
- Coordinating with Valassis legal counsel and engineering during the entire process to meet project deadlines.
- Coordinating the entire design and construction process, where NAI Mexico’s assistance proved vital in the resolution of minor construction detail variances.
- Coordinating the walk through inspections and punch list items at the facility prior to accepting the building and initiation of the lease term
NAI Action Plan
- – NAI Mexico prepared a strategy that included bidding out the build to suit to lease project to both local and national industrial developers; this created intense competition and insured that the local bidders knew that they would have to be extremely aggressive and creative to compete with the larger global developers.
- – Bid process consisted of two rounds of proposals and negotiations, culminating in selection best compatible industrial developer which completed the building
