Client Representation – Lease Renewal and Acquisition
After a successful lease renewal of their 70,000-sf. facility, reducing their overhead expenses by 13% for an additional two-year term, Vertical Strategies Real Estate was commissioned to represent Safari Ltd.’s future interest in acquiring a new headquarters that would meet their growing operational needs.
It was Vertical Strategies Real Estate’s recommendation and swift mobilization of construction and architectural professional contacts that were instrumental in presenting to Safari, how improving/customizing a building to meet their operational needs would be cost effective over a short time period, greatly improve the property value and allow Safari to grow their business.
Vertical Strategies Real Estate’s past dealings and good rapport with the owner of the property led to negotiations securing a competitive purchase price point that was estimated to be 6% below market, based on 6 comparable sales of similar grade of industrial building in top tier industrial submarkets in Miami Dade. The combination of Vertical Strategies Real Estate lease and buyer representation provided Safari Ltd nearly $700,000 savings. Today Safari Ltd. is the owner of an ideally located class A showcase corporate warehouse of 106,000 sf has successfully been able to grow their business franchise and by todays commercial real estate values has seen significant increase in property valuation estimated to be 20% or higher.