BSE Inc. is the sole distributer for Purex air filtration equipment in the United States. They were in the Chicago MSA but wanted to relocate to Indianapolis to take advantage of the lower cost of living and more favorable business climate. BSE needed to find an industrial facility to lease that would accommodate their needs and would also provide a long lead time before occupancy so that the BSE team members could move their residences from Chicago to Indianapolis.
BSE contacted the PaulDickTeam on one of its listings. BSE was impressed with the Team’s responsiveness and engaged the Team for Tenant Representation. After a few meetings to determine the scope and timing of the project, the Team began to systematically survey the market to find the right facility for them. While BSE was open to all submarkets around the Indianapolis MSA, they had very specific requirements regarding clear height, dock doors, highway access, budget, and their top priority of delayed occupancy.
The Team scoured and toured numerous options all over the market. Due to historically low vacancy and high activity in the industrial market, most landlords were unwilling to delay occupancy to the extent necessary for BSE, but the Team found two landlords who were open to that idea. After negotiations, the Team was able to secure a 14,315 SF space at 4038 Park 65 Drive that met all the physical requirements, provided a good tenant improvement allowance, and gave BSE a full year from the lease execution date to occupancy to allow time for their staff to relocate from Chicago to Indianapolis.