Construction Management
Site Selection
Build To Suit
Lease Administration
Due Diligence
Tenant Representation
Renewal Negotiation Sale
Appraisal & Valuation
Once the holiday season rolls by and you take your Christmas lights down, most companies receive that nasty old annual operating expense reconciliation statement from their Landlord. This is typically not the Christmas gift you were hoping for! When this annual event takes place, it is time to take a hard look at the numbers and confirm that you are not getting charged for operating expenses that you’re not obligated to be paying.
Most Landlords are on top of it but we’re all human and mistakes are going to happen. We work with a team of specialists who specialize in identifying these mistakes, fixing them and initiating expedient cost recovery for our clients!
This can save your company a boatload of money – especially as it relates to large property portfolios.
Call me to discuss how our team can assist to throw a second set of expert eyes on those pesky OpEx numbers!
We like to work with fast growing companies. This is my target market. I am in beast mode and I also want to have clients that are in beast mode. Often times, rapid growth is organic while other clients prefer to grow via Mergers and Acquisitions.
We work closely with major logistics oriented companies as well as private equity companies to assist with real estate strategy throughout the M&A process.
My team has extensive experience in acutely analyzing real estate portfolios to determine value. We excel in working with our clients to develop and execute strategies to assemble real estate portfolios in an effort to ease the M&A process and elevate our clients game as it relates to strategic growth.
Please contact Ward to discuss specific case studies and let us know if we can assist your team in evaluating valuation and strategic integration processes.
Our team’s economic incentive specialists maintain extremely close relationships with municipalities and economic development specialists to identify and assist in procuring economic incentives which support our client’s goals. Our economic incentive team is up to date on incentive trends on a macro level and have an in depth understanding of developing and executing strategic approaches to maximizing benefits for our clients.
The objectives are to secure financial incentives to reduce the client’s investment in labor, land, facility and/or equipment; ensure timely and low cost permitting; reduce the annually recurring cost of operations; ensure smooth recruiting and training processes; improve operational flexibility; and protect the client from punitive provisions of particular incentive programs.
Utilizing our team’s proprietary methods, this analysis is a very deep dive into labor availability and labor union activity around specific sites or buildings. The labor markets are drive-time configured labor sheds, i.e., the geographic area from which the client’s employees are likely to be drawn. The centroid of each labor shed is an acceptable site or building for the client’s operation.
These analyses identify the best alternatives through a side-byside summary and comparison of each labor shed relative to normalized labor union organizing activity by industry and union; labor union threat; wage cost by job title and experience; labor force demographics by income level and how these characteristics impact labor availability; educational attainment; and other measures of desirability and feasibility.
Our team partners with supply chain wizard Gregg Healey to help our clients maximize efficiencies via:
• Network Optimization Studies
• Warehouse Management Design and Execution
• Transportation Solutions Analysis
• Technology Solutions
• ROI Analysis
Gregg leads the Supply Chain and Logistics Consulting team at Colliers International, which means he works to strategically support our clients in optimizing their networks as well as internal operations. His goal is to bridge the word of distribution with the world of real estate solutions, so that our clients can make informed decisions to maximize the utilization of their supply chain.
With over 20 years of global manufacturing and supply chain experience as both as a senior executive in the corporate world, as well as owning a supply chain consulting practice and a third party logistics business, I have real world experience that brings unique perspective to the team.
Our Team is recognized globally for our extensive experience in assisting logistics and manufacturing companies as well as Investors with Excess Property Disposition projects.
We are engaged by clients all over the world to develop and execute world class disposition projects, including Sales, Leases, Subleases, Sale Leasebacks and Investment Sales.
We have successfully disposed of multiple properties throughout North America and have been selected as trusted advisors to assist with excess property dispositions by global logistics leaders like TFI International, DB Schenker and FedEx Freight as well as major shippers like Post Foods. Additionally, institutional and local ownerships have engaged our team to run point on listings throughout the country.
Our tactics are fairly simple. First, we analyze Client’s excess property. Based on initial analysis, we assemble a killer team comprised of macro business experts and hyper focused submarket gurus – AKA –The Boots on The Ground to work together with the Client to develop and execute a customized, world class marketing strategy to max out value and meet the Client’s time frame goals.
After over a decade of experience in working with 3PL’s throughout North America, our team is considered to be one of the preeminent leaders in specializing in 3PL real estate services.
We have built a strategic partnership with other 3PL real estate specialists around the globe to help our 3PL clients to continue to grow and gain market share.
As a member of IWLA and the Texas Warehouse Association, Ward invests a substantial amount of time to grow his understanding of the 3PL industry including business strategy, trends and challenges. Ward has contributed to the IWLA PAC http://www.iwla.com/government-advocacy/political- actioncommittee-faq/ in an effort to help 3PL’s achieve political goals in an effort to improve operationalstartegies and maximize shareholder value.
3PL’s require multiple services that Ward and his team take very seriously and continually work to improve and automate in an effort to help our clients WIN NEW BUSINESS, GAIN MARKET SHARE and INCREASE SHAREHOLDER VALUE.
Key 3PL specific components that our team can assist with include the following:
We understand that the 3PL business is super competitive and SPEED IS CRITICAL. Our team has established processes to implement Rapid Market Analysis (RMA) with lightning speed to assist our 3PL clients in the bidding process. We can implement RMA simultaneously throughout multiple cities around the globe to deliver rock solid information to give our clients an edge!
Our team works closely with leading shippers, retailers, ecommerce leaders and manufacturers that are constantly looking for new 3PL partners. We pride ourselves on matching our Shipper clients with our Carrier clients in an effort to help them strategically form strong, lasting win-win partnerships to maximize value and efficiency for both parties. Please contact us today if you are interest in being added to our team’s 3PL database.
As previously mentioned, we have strong relationships with the Shippers and understand the growing,critical importance of flexible warehouse solutions. Our team is acutely aware of all market options around the globe that will allow for flexible space solutions in an effort to accommodate seasonal and sporadic overflow needs for our 3PL partners.
Construction Management
Honesty and integrity is the driving force behind a complex construction project. Providing detailed construction cost and budgetary review information is critically important to building client partnerships and relationships. Transparency and communication among all parties ensures that our clients can stay one step ahead of the project pace.
Whether you are in the middle of an intricate warehouse, industrial, manufacturing, logistics, or trucking real estate construction project, experience across service lines provides strong framework for meeting timelines and controlling costs. With this knowledge and utilization of commercial real estate industry and construction management best practices, our team will ensure progress, deliverables, and ongoing results.
PRE-CONSTRUCTION MANAGEMENT SERVICES:
Scheduling
Project Goals
Feasibility Study
Value Engineering
Permit Coordination
Estimating
Subcontractor and Supplier Bid Management
CONSTRUCTION MANAGEMENT SERVICES:
Cost and Quality Control
Project Safety
Phasing Requirements
Plan Development
Progress Reporting
Site Security Management
Human Resource Management
Drawing Review
Project Scheduling
Construction Project Close-out
POST-CONSTRUCTION MANAGEMENT SERVICES:
Warranty Coordination and Preparation
Guarantee/Warranty Enforcement
Equipment Operation and Maintenance
Record Drawings
Build to Suits offer customized facility solutions for the client that has unique needs which typically are not being met by the speculative development market. We work closely with clients to determine facility needs based on their company culture, strategy and business needs. Our team has in depth experience working closely with our clients throughout the Build To Suit process to deliver best in class process efficiencies and value maximization. Our primary goal is to streamline efficiencies and deliver unparalleled value to our clients throughout the development process of customized Build To Suit warehouses, manufacturing facilities, truck terminals as well as state of the art ecommerce distribution centers.
Build-to-suit capabilities include supply chain analysis, labor analytics, economic incentive negotiations, proposal management process, contract negotiation, design consultation, site analysis, and thorough execution of the project. Planning is critical when mapping out a customized industrial property to meet our clients’ business needs. Our team provides ongoing commercial real estate services including: project management, construction management, property management, and asset management.
BUILD-TO-SUIT PROCESS:
Our team provides dedicated leadership who take a hands-on approach to client relations. Motivation is driven by a collaborative atmosphere keeping all stakeholders engaged and efficient.
BUILD-TO-SUIT SERVICES:
Supply Chain Analysis
Labor Analytics
Site Identification
Project Feasibility Evaluation
Economic Incentive Negotiation
Proposal Management Process
Project Budgeting Scheduling
Procurement and Permits (zoning entitlements)
Finance Advisory
Project Design Engineering Management
Construction Bidding
Tenant Finish Management
Project Close-Out
Tenant Move-In Coordination
The Site Selection process is critical for Mission Critical projects (Large, Labor Intensive Distribution and Manufacturing) and we employee world class technology and market research to provide our clients with impactful, value driven customer service. Site Selection processes and services include:
We build a profile of the client’s proposed facility within the site selection optimization model and calculate the estimated annual cost of wages, real and personal property taxes, electricity and real estate or development costs for each location within the client-defined study area(s). It quantifies the geographic differences in operating costs among all locations within the study area(s). The costbased screening is supplemented with parallel analyses of labor union election activity, unionized companies, labor quality and availability, availability of seasonal workers, proximity to critical transportation infrastructure, weather or seismic risk factors, and other variables as required by the client.
The output is a short list of options in which costs are minimized, labor requirements are met and operational risks are reduced. The search for sites or buildings is advanced in the recommended locations.
This analysis is a very deep dive into labor availability and labor union activity around specific sites or buildings. The labor markets are drive-time configured labor sheds, i.e., the geographic area from which the client’s employees are likely to be drawn. The centroid of each labor shed is an acceptable site or building for the client’s operation.
These analyses identify the best alternatives through a side-by-side summary and comparison of each labor shed relative to normalized labor union organizing activity by industry and union; labor union threat; wage cost by job title and experience; labor force demographics by income level and how these characteristics impact labor availability; educational attainment; and other measures of desirability and feasibility.
This is a detailed 10-year pro forma development and operating cost analysis and comparison of each finalist property. It is tailored to the client’s planned operation, and reflects employment by job skill and shift; projected investment in production or material handling equipment by class life; utility load profiles; and the cost to build, buy or lease the facility. It also establishes the investment and operating cost baseline for incentive negotiations.
The objectives are to secure financial incentives to reduce the client’s investment in land, facility and/or equipment; ensure timely and low cost permitting; reduce the annually recurring cost of operations; ensure smooth recruiting and training processes; improve operational flexibility; and protect the client from punitive provisions of particular incentive programs. We maintain extremely close relationships with municipalities and economic development specialists to identify and assist in procuring economic incentives which support our client’s goals.
We provide turnkey services for the management of design, development and construction of industrial facilities, as well as retrofit or upfit of existing buildings. Services include:
Preparation of facility criteria for retrofit or new construction
Retrofit/upfit feasibility and cost analysis in spec and second generation buildings
Preparation of construction and retrofit budget estimates
Coordination and management of permitting
Development of construction bid packages and RFPs
Bid management and cost analysis
Construction administration including on-site inspections, budget and schedule management, change order control and coordination of equipment installation
Project closeout, occupancy certificate and facility turnover
Lease administration and management requires a team of experienced commercial real estate professionals working collaboratively to execute complex business plans to match and exceed individual client leasing expectations while controlling / minimizing cost while providing fully transparent peace of mind.
The lease administration and management process is a conglomerate of micro-processes to streamline efficiencies and maximize value for clients with significant leased property portfolios.
OUR WORLD CLASS TEAM’S TOP GOALS INCLUDE:
Streamline lease administration
Assist clients to avoid billing errors and overpayment
KEY SERVICES INCLUDE:
Lease abstracts
Critical Date tracking
Operating Expense audits
Operating Expense recovery negotiation
Operating Expense budgeting and planning
Automated payment processing and verification
Organization of and management of complex real estate portfolios
Anticipating changes in corporate lease accounting is a critical job within our Lease Administration and Management group and our team provides best in class service to assist our clients with such changes in an effort to comply with ever changing municipal guidelines in an effort to help our clients to manage the corporate lease accounting process in a streamlined and value driven manner.
A commercial real estate partner is essential when planning to buy or finance commercial properties and industrial real estate. Prior to engaging a potential seller, a Property Due Diligence Evaluation is required by a qualified commercial real estate professional to establish a fact-based foundation upon which to decide. The buyer, seller, and all parties represented are required to ethically provide truthful information to maintain transparent transaction process.
DUE DILIGENCE EVALUATIONS ARE PREPARED FOR ONE OF THE FOLLOWING PARTIES:
Strategic Real Estate Buyer – must designate commercial property / land for own use and intended use
Financial Estate Buyer – purchasing commercial property / land for investment purpose and must designate financial information and projections
Commercial Developer – seeking to repurpose the commercial property / land and must designate feasibility and cost-effectiveness of project
A Lender – representing a potential buyer and must provide clients ‘ability to pay’ and ‘sufficiency of collateral’
A thorough Due Diligence Property Evaluation of a warehouse, trucking terminal, manufacturing facility, or industrial land provides valuation discovery and insight for a commercial property’s prospective seller and purchaser. A qualified commercial real estate advisor determines the level of due diligence need based on circumstance per transaction.
Negotiating a lease renewal is an extremely important part of the tenant representation process. Every renewal should be deeply vetted and treated as a new deal. We recommend beginning the renewal process 12-18 months out in an effort to have TIME too properly analyze ever evolving business and logistics needs as well as understand all market options.
Please contact my team today to discuss upcoming lease expirations so that we can strategize to develop a plan of attack to maximize value and improve efficiencies related to potential Renewal Analysis projects.
The bottom line is: TREAT EVERY RENEWAL LIKE A NEW DEAL. GET THE PROCESS STARTED EARLY. TIME IS YOUR ALLY.
Call me to discuss!
Tenant representation provides a balance between the corporate logistics and manufacturing tenant and landlord. Reaching equitable facility solutions is a process which requires focus, discipline, and an in depth understanding of the client’s business goals and supply chain strategies combined with robust market knowledge, unparalleled transactional experience, and negotiation expertise.
With over a decade specializing in industrial tenant representation, Ward Richmond has been recognized as one of the top industrial tenant representation experts by multiple organizations and publications throughout the world.
Our team has negotiated hundreds of transactions all over the globe representing corporate tenants ranging from publicly traded Fortune 50 companies to local family owned partnerships.
Our core tenant rep services include: Site Selection, Renewal Negotiation, Excess Property Disposition, Buy vs Lease Analysis, Financial Analysis, Supply Chain Consulting, Labor Analytics, Economic Incentive Negotiation, M&A Strategy, Lease Administration, Bill Pay, Operating Expense Recovery, Industry Benchmarking, Construction Management, 3PL & 4PL Services, Relocation & Consolidation and Sublease strategy among others.
We customize our tenant representation processes and services to align with our clients’ business strategies, goals and culture. We work together with our clients to develop and execute world class real estate strategies in an effort to substantially improve efficiencies and maximize value related to the commercial real estate spend.
Our team has extensive experience related to appraisal and valuation methods for supply chain real estate and industrial properties and one of our core strengths. Our team is based in Dallas, TX but strategically connected globally to provide industrial property appraisal and valuation services and local market experts around the globe. Industrial valuations performed include a long list of warehouses, truck terminals, manufacturing facilities, industrial land, storage yards, cold storage food processing buildings, flex buildings, and more.
Warehouse, truck terminal, manufacturing facility, distribution center and industrial land appraisals and valuations might seem more basic than other property types; however, these properties have unique characteristics which can create challenges throughout the valuation process. One warehouse is not the same as the next warehouse. One LTL truck terminal is not the same as the next one. FTL truck terminals are extremely complicated to value.
Characteristics that need careful attention include: loading infrastructure, fire protection system, power service, truck court depth, clear height, truck maneuvering distance, loading capacity, truss height, office space percentages, excess land, floor thickness, land to building ratio, slope of access to the site, etc. These items are important to analyze when evaluating comparable properties to determine valuation.
Sale-Leasebacks provide opportunities for owner-occupiers to transform property equity into cold hard cash in exchange for shifting from owneroccupier to lessee or tenant. Fortune 500 & 100 companies have been using Sale-Leasebacks for decades to add cash to the balance sheets and reduce non-liquid assets. The Sales-Leaseback process allows companies to free up capital tied up in real estate assets. Institutional buyers engage in this process to expand their portfolio and stabilize cash yields as a part of overall investment and financing strategy.
Ability to convert real estate assets into working capital for expansion, planning, ownership, and acquisitions. Monetizing real estate assets provides the opportunity to increase shareholder value by allowing leadership to focus on other core business needs without having to factor in laborious real estate management.
Increasing cash flow without having to change business operations. SaleLeasebacks provide predictable and replicable returns for both sellers and buyers. On the buyer side, they get a long-term lease. On the seller side, it keeps operations consistent and in place while increase much needed cash to allocate to necessary business initiatives.
Receiving a more equitable market value versus financing debt. Most lenders and banks value properties as if they are vacant. Sale-Leaseback financing provides a greater value alternative by providing assurance of ongoing occupants with terms 15 to 20 years. These terms are much more attractive and provide more cash flow that debt financing.
Shareholder Value Increase. Eliminating real estate debt can dramatically improve overall balance sheet. Sale-Leaseback provides the opportunity to acquire quick operational cash, but also improving the portfolio of the company. Additionally, the agreement is structure as an operating least rather than capital lease which results in a more equitable balance sheet ratio.
Available to ALL types of businesses. Sale-Leaseback is offered to corporate office, industrial, warehouse, manufacturing, commercial development, retail, or either individual for portfolio format.