Turn 14 engaged NRS to assist in relocating their office headquarters and securing a site for a new state-of-the-art distribution facility. Turn 14 is a dynamic and fast growing distributor of high quality auto components. They currently operate distribution centers in Montgomeryville, PA and Reno, NV.
To secure an approximate 35,000-40,000 square foot, class A office suite that provided a high quality work environment, fantastic efficiencies and a high image, corporate setting that aligned with the company’s culture and exceeded the expectations of their clients, who often visit their office location.
NRS conducted an exhaustive search, met with multiple landlords, provided analytics for each respective option and orchestrated a multi-property solicitation for terms, which resulted in an extremely competitive negotiation process that concluded in Turn 14 consummating a lease on an approximate 37,000 square foot ground floor office suite in one of Philadelphia’s finest suburban office buildings, in Horsham, PA. NRS was also involved in the interview and selection process of the architectural and project management firms involved in the assignment.
To secure a land site with the ability to accommodate a 200,000 square foot distribution center and the capacity to allow for an expansion of up to 150,000 square feet. Additionally, the CEO of Turn 14 challenged NRS with the task of finding a site within a strict geographical range as retaining his existing employment base was one of the company’s highest priorities.
NRS submitted build to suit opportunities in Pennsylvania and New Jersey. After an intensive search NRS was able to uncover a 20 acre site in Hatfield, PA. The property was owned by a local developer who had no interest in developing the site themselves, however, had significant interest in selling to a third party. A large industrial property development firm was brought into the fold to act as the purchaser of the site, developer for the new building and subsequent Lessor for the property. The end result was the completion of a ten year lease on a new 209,000 square foot distribution center with the ability to add another 150,000 square feet. Additionally, NRS, in collaboration with others, recommenced to Turn 14 to pursue a LERTA tax incentive program, which provided for almost $1MM in tax savings over a ten year period.
ESCO engaged NRS to assist in securing two new flex-industrial facilities for separate business lines currently operating in Pennsylvania.