A major supplier for Honda, Greenville Technology, Inc. (GTI), had reached capacity at its 490,000 SF facility in Greenville, OH and was unable to expand their facility in order to meet the increasing demand of their largest customer, Honda. In order to fulfill their contracts, GTI was obligated to begin manufacturing additional parts by January 2013, even though the real estate search did not start until May 2012.
“Dustin’s relationships, experience, and responsiveness were critical in getting this done in time to meet our goal, fulfilling demand for our number one customer.”
- Bill LaFramboise, Executive VP, Greenville Technology
Due to the expedited timeline, GTI’s initial strategy was to find an existing facility and retrofit it for GTI’s specific needs.
RESOURCE Commercial’s Senior Vice President Dustin Looper first assisted GTI in the procurement of a 50,000 SF facility and adjacent land in Richmond, Indiana. However, in working through the short and long term goals and risks associated with the proposed real estate, Dustin quickly identified the opportunity to “Dustin’s relationships, experience, and responsiveness were critical in getting this done in time to meet our goal, fulfilling demand for our number one customer.” Bill LaFramboise, Executive Vice President, Greenville Technology, Inc. provide GTI with a sound long term real estate solution, a new 160,000 SF build-to-suit facility, at a lower cost. The radical proposal was brought together by Dustin and the Economic Development officials of Anderson, Indiana. Within 48 hours, Dustin had assembled the proposed 25 acre site, gathered every required city department and utility official, a preferred building developer, and worked through the deal structure with the economic development officials. The quick work and wellnegotiated contracts provided for significant cost savings in excess of $3 million, as well as a facility that would provide GTI with the ability to meet their manufacturing demand immediately and into the foreseeable future for one of the world’s largest automobile manufacturers. The entire project, from the first conversation to construction completion, took less than 7 months. GTI met their goal and began shipping from their new facility to Honda in January 2013.
Note: We have several professionals with substantial client transactional experience prior to joining RESOURCE Commercial, which is included above.