Site selection, lease negotiations, and underwriting of Free Trade Zone (FTZ) costs and benefits
ORION Commercial Partners assisted Helly Hansen North America in a multi-state study of Operating Benefits and Occupancy Costs in several areas of the United States and Canada. After H/H’s leadership elected to remain in the Seattle region, ORION negotiated a lease extension at their then-current facility, allowing H/H the time and flexibility to study efficiencies and benefits of a North American consolidation to a single Central Headquarters with administrative offices and a distribution facility.
Once H/H made the decision to consolidate its operations, ORION advised the client to exercise a termination right at the end of the first year of a 3-year lease term, only after a new distribution campus had been secured.
ORION embarked on a search for a Class ‘A’ Office/Industrial campus roughly twice the size of H/H’s then-current facility. ORION ultimately helped H/H find the best-located campus in the market and negotiated the most economically competitive lease for 100,000+ SF industrial facilities to transpire that year within the 130 million SF Kent Valley market.
H/H proceeded to obtain Free Trade Zone (FTZ) status for the facility through a swap, possible thorough prequalification of the area with the Port of Seattle. ORION arranged the landlord’s financing of the fixturing of the plant with European-compatible equipment, plus the expansion right into an adjacent tenant’s space upon their vacation of it.