Tough Requirement for a Tight Industrial Market
Nov 9, 2022
Client Success Story with Bay Area Pipe & Equipment
Bay Area Pipe & Equipment was in a holdover warehouse space in an area that had future plans of being developed. They needed to find a new warehouse within a few months for a competitive rate in a very tight industrial market.
Mark began to scour the market for warehouse spaces that met their size and budget requirement. Mark began engaging properties and setting up tours. The first option did not go through. Mark was able to discover an off-market opportunity where the current tenant was planning to retire and close-up shop. Mark connected with ownership that same day, toured the following day, and immediately began the negotiation process.
Mark secured a stand-alone warehouse in a very tight industrial market.
Mark was able to finalize the process within 2 months.
He negotiated a lease at 20% under current market rents.
When it was all said and done Bay Area Pipe & Equipment was able to quickly move into a new long-term home that perfectly fit their needs.
Our experience using Starboard was fantastic. Mark was very knowledgeable and made the entire process of leasing a new warehouse a breeze. He is always responsive to any questions and was great with following through. We found and signed a lease for our new warehouse in less than 2 months, which was exactly the timeline we requested. I would HIGHLY recommend Mark at Starboard CRE. You won’t be disappointed!