CHALLENGE

Coldwell Banker Commercial representatives Bill Mears and Adam Shultz were tasked with finding a replacement tenant for the sixty-thousand square foot warehouse, which was constructed in 2017 after the initial tenant's three-year lease ended. The existing tenant decided to not renew their lease, which presented an opportunity to anyone looking for ample warehouse space in the Milton market.


ACTION

Bill and Adam immediately showed the property numerous times within weeks of receiving the listing, but early interest did not automatically translate into a signed deal. It took multiple showings and follow-ups with groups, and after about six months of activity, the ideal company looking for growth out of their existing building secured the space on a longer-term lease.


RESULTS

  • Successfully negotiated a sixty-two-month lease with annual rent increases
  • Tenant move out/move-in occurred simultaneously to prevent the building from sitting vacant for an extended period
  • A new warehouse employer was brought to the Milton job market, and the operation should staff around fifty-five employees during peak seasons

"Bill and Adam worked extensively pushing for the longest lease possible while also adhering to our ideal time frame to fill the space. Their hard work prevented our building from going dark and we’re incredibly pleased to be building a relationship with a new long term tenant in the Milton community."

                                                                                                                  - Terry McGuire, Badger Property Investments 

 

*New Challenge: The owner is adding on 50,000 square feet of additional space to this building available in late 2022, and we are seeking a tenant to fill the space. Contact Bill or Adam for details.