WIS-PAK
1999Year Acquired |
130,000 SFBuilding Size |
General Capital Delivered this 130,000 sf Distribution Facility in Five Short Months
In 1998, General Capital was retained by the Midwest Pepsi Bottling Cooperative, a group of independently owned PepsiCo distributors, to develop and lease back a 130,000 square foot distribution facility in which to implement a new state-of-the-art distribution concept. General Capital (together with brokers from NAI/MLG Commercial) analyzed seven sites and recommended the best location based on geographic location, distribution routes and other factors. General Capital broke ground on this facility in August 1998 and delivered it for occupancy in January 1999.
Given the shift in the cooperative’s distribution concept, the group desired a relatively short-term lease to maintain maximum flexibility. General Capital offset this rollover risk by simplifying the building’s structure and creating an open, multi-functional floor plate that would have the highest degree of market appeal should the facility require releasing to multiple tenants in the future.
General Capital works with tenants to identify optimal sites, develop a suitable building program and create the ideal scenario for a tenant’s specific requirements.
KEY THEMES
- Industrial build-to-suit development delivered a purpose-designed distribution facility supporting a new logistics strategy for the Midwest Pepsi Bottling Cooperative
- Strategic site-selection process evaluated seven locations based on geography, distribution routes, operational requirements, and long-term suitability
- Fast-track development and construction enabled General Capital to move from groundbreaking to occupancy in approximately five months
- Flexible industrial design balanced the tenant's specialized distribution requirements with long-term adaptability and future multi-tenant leasing potential
- Creative lease and building strategy addressed the cooperative's desire for short-term flexibility while mitigating future ownership and rollover risk
RESULTS
- Successfully delivered an approximately 130,000 SF distribution facility in Watertown's North Towne Corporate Center
- Completed the project in approximately five months, breaking ground in August 1998 and delivering the facility for occupancy in January 1999
- Evaluated seven potential sites before identifying a location optimized for geographic access and distribution routes
- Delivered the facility on time and on budget to support the cooperative's implementation of a new state-of-the-art distribution concept
- Created an open, multi-functional floor plate capable of adapting to multiple tenants and alternative uses, strengthening the property's long-term marketability
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