“With inflation concerns making headlines, have you reviewed your lease lately for CPI escalations? Benchmark Commercial offers complimentary lease reviews to better understand your exposure to lease language with CPI (Consumer Price Index) escalation clauses. The more informed you are, the better you can prepare your business for the year ahead.”
-Jaimee Keene, Benchmark Commercial
Our newest broker, Tish, has been a major asset to the Benchmark team after just one month! We are so thrilled to have her. As we set out on this blog journey, it was important to start from the beginning. I simply asked Tish to give me a short statement about what she has learned/ encountered her first month. Words from the wise!
“As a new broker you will enter a new world of acronyms. Don’t worry, you will learn it. Write it down. Look it up and if you still don’t know, ask. I think if you love learning and you enjoy people this can be such a wonderful career. I was surprised at the diverse nature of personalities in this industry. It has been such a great experience to get so many perspectives on the approach to being a successful broker. The one thing that is key, is patience. So don’t look at this as a sprint but rather a marathon.”- TISHA BRADY
We met Yeti’s team through a referral from an existing client. At the time, Yeti Cycles was looking to buy an industrial building or build their own. They had a specific requirement of needing to be within a five-minute ride to a certain mountain-bike trailhead. After analyzing existing nearby warehouses for sale, we focused on land availability. After making an introduction to the local economic development council, running build scenarios, and introducing contractors, we shifted gears towards finding a warehouse for lease. This allowed Yeti to keep the capital required for a building acquisition/build and apply it toward further growing the renowned Colorado company.
We structured a new warehouse lease with a brand-new buildout with room for expansion, complete with showers and lockers for post-ride, Yeti turquoise on walls, and a bar for post-work team building.
OUTCOME: A perfect vision-filling space that turned from a want to purchase to the desire to lease using information provided by the team, as well as growth options for the future
Stanley Steemer, a carpet and upholstery cleaning company, had four locations in the Denver area. With all four leases set to expire around the same time, and all needing to expand, it was time to look for office and warehouses for lease. We partnered with Stanley Steemer’s broker out of Ohio and provided local expertise with market-specific knowledge.
Stanley Steemer was looking to consolidate their two northern locations (Fort Collins and Thornton) into one large location, and their other two locations (Golden and Englewood) into spaces with room to grow. All three locations had similar needs and requirements: 1) safe, indoor parking for their vans, 2) trench drains and sloping floors, 3) high parking capacity, and 4) office space for their Operations Managers and training rooms.
After scouring the market, we found fifteen locations to tour, started negotiations on multiple options, and narrowed the focus to our three matches! Thornton and Fort Collins were combined into one newly constructed building in Loveland – built to suit. The Golden location, originally looking around Denver’s central corridor, opted to say in Golden and expand into the building next door. The building needed the doors to be enlarged for the vans to easily park inside and new drains were added. The Englewood location moved to Parker where there was a similar space that had been used for a similar business; the loading doors were already perfect for their vans, and the warehouse floor was converted to add slope for the drainage system.
All three locations are operational, with space for additional vans and supplies, and are back to business as usual with room to grow!
How do you find a larger warehouse for rent and pay less? Well … after a lot of looking, due diligence, and thoughtful negotiation!
Golden Railings has a long and successful history of specializing in handrails for wet environments such as water treatment plants. For most of their 20+ years in business, this client had been in the MIE complex in Golden. With about 3 months left on their lease, they contacted Benchmark Commercial to help them secure a larger, less expensive warehouse for rent. After extensive searching, we secured Golden Railings a true manufacturing building in the city of Broomfield to fit their needs. The results:
Of course, there is more to the story – contact us at Benchmark Commercial and we’ll be happy to tell you the rest.
We look out for your best interest.