Ampersand Art Supply is a growing manufacturing company. To accommodate the real estate requirement of this growth ECR worked with Ampersand for many years to expand to a secondary location and to ultimately expand into the entirety of both properties.
The obstacle of being in two locations created logistical challenges for Ampersand Art Supply, and further, the company was restrained from further growth opportunities.
Lastly, the company was susceptible to fluctuations in rental rates in the future given that they were a tenant.
ECR and the owners worked together closely for years to evaluate options ranging from lease to purchase and in different markets in and around Austin.
Ampersand preferred to own, and as such, ECR helped to put the appropriate resources in place to assist; from SBA lender resources and attorneys to construction contacts.
After multiple market surveys and tours of prospective properties ranging over a course of 5 years, a unique opportunity presented itself in Buda to purchase a 109,019 SF industrial facility that was 40% leased.
4The remaining 69,000 +/- SF of vacancy provided an excellent owner-user opportunity for Ampersand. The ownership of Ampersand and ECR developed a strategy to aggressively negotiate the most favorable terms possible for the purchase.
4Further, the property needed to be subdivided from a larger tract of land, and ECR helped to put the right legal counsel in place to assist with this process and to negotiate a protective time and economic structure in the contract.
Our company is moving into a new facility that is perfect solely because we had the most diligent, knowledgeable, and committed commercial real estate advisor in Austin. For five years, ECR patiently worked with us to find the “right” place for our growing company. Other brokers we had worked with in the past did not have the patience and commitment that we found in ECR. From the beginning, ECR helped us locate a property to lease while we found our permanent home for our business. They went the extra mile every single step of the way. Our advisor at ECR was so sensitive to our time constraints so he would often take the stress out of our property search by taking on a lot of the tasks that normally would fall on the owners’ shoulders. Even today, he continues to follow up with us and continues to provide support. Today we own a new facility that will help us grow our business in large part due to ECR’s commitment not only to our business but to us individually. We highly and unequivocally recommend ECR for your real estate commercial needs - you will not be disappointed.
Ampersand Art Supply, President/CEO
Through the course of a year to complete the subdivision process, Ampersand retained control of the acquisition of the property and the cost burden of the subdivision process fell on the shoulders of the seller due to the tightly crafted initial contract.
Further, this time period provided an excellent window for Ampersand to prepare construction documents, finalize pricing, and become well-suited to move their operations.
Ampersand Art Supply now operates its growing manufacturing business from the new facility with an efficient design, strong economic structure from owning, and growth opportunity that is currently producing revenues through other tenants in the property.