Case Study: A complex requirement of clean laboratory and also a production area.
Colliers team builds a facility when the inventory did not meet the needs.
Challenge: Avnet, Inc. is one of the world’s largest distributors of electronic components and services. Avnet retained the Colliers team to represent their interests in lease negotiations for a 575,000-square-foot industrial facility in Columbus, OH.
Avnet needed half of the facility to be a clean lab and the other half to function as a production area. However, there were no buildings in Columbus that fit this description besides the building Avnet currently occupied. Additionally, Avnet was in the process of acquiring more businesses that would be consolidated into their Columbus operations and impact their space requirements.
Strategy: Given the lack of appropriate inventory, the Colliers team solicited proposals from five developers in Columbus. Avnet met with each developer to assess their ability to construct a building that would meet all of Avnet’s needs.
Colliers and Avnet worked together to compare developer bids and prepare an in-depth financial analysis comparing a build-to-suit or an expansion of Avnet’s existing facilities.
Result: The team ultimately decided that the best approach financially was to construct a new building built to Avnet’s specifications. Avnet selected a developer who completed a specialized building that met its unique needs, while also providing the possibility of additional space to accommodate future expansion.