Kimpex, Inc. establishes local distribution center
Situation
Kimpex Inc. is the Canadian leader, and one of the top North American distributors of aftermarket parts and accessories for recreational vehicles. Though the head office of Kimpex Inc. is located in Drummondville, Quebec they wanted to open a distribution center in Albany, NY. Albany’s strategic location features three interstate highways, rail service only 2 hours and 15 minutes from New York City, a year round deep water port, and an International airport with direct air service to all major markets. These transport systems provide convenient and efficient access to the markets of the Northeastern United States and Canada. The unique perspective to this transaction was that Kimpex arrived unannounced to the Albany area and visited one of the local Chambers of Commerce looking for immediate assistance in seeing available properties. The Chamber put them in contact with three commercial real estate firms who were chamber members and we were the first, and only, firm that was able to show them properties immediately.
Process
Not wanting to plan another trip so soon Kimpex was urgent to see as many properties as possible that day. Through our market knowledge and extensive databases we were able to rapidly assemble a property tour for available warehouse/distribution space that met their needs. After the tour we performed a Lease vs. Lease Analysis and a Demographic and Economic Study from which we generated a quantitative and qualitative building comparison for Kimpex. By calculating the total cost to occupy the space throughout the entire term of the lease we were able to identify a site that met all their long and short term needs. Additionally, we are able to secure a number of economic incentives and tax benefits by locating them space in a burgeoning Economic Development Zone.
Result
Our detailed analysis determined the best lease agreement for Kimpex. With the guidance of Larkin, Kimpex, Inc. made the decision to lease 30,000 SF from a local manufacturing facility.