Client: Coca-Cola Enterprises
Location: Atlanta West Distribution Center, Atlanta, Georgia
Size: 100,000 square feet
Overview: By the mid-2000’s, the beverage industry wars were in full swing. In 2006, the latest salvo came when The Coca Cola Co. purchased Glaceau Water Products, acquiring its popular VitaminWater line of drinks. This caused Coca-Cola Enterprises to have to expand its distribution network. In less time than many companies take in similar capital decisions, CCE came to Ackerman & Co. for help in securing a southeast distribution center for its new products.
Approach: Ackerman focused its search on the south side of the metropolitan Atlanta area, where close access to major highways is plentiful and Hartsfield Jackson Atlanta International Airport is nearby, and rates are lower than in other premium industrial markets. Leveraging the firm’s extensive relationships with industrial developers, Ackerman quickly entered into negotiations and solidified an equitable deal for CCE that offered many incentives.
Results:
- This deal represented a continuation of a 15-year corporate relationship between Ackerman and CCE.
- Successfully orchestrated a market-wide search of warehouse properties, quickly finding key alternatives for CCE.
- Steered CCE away from the Northwestern portion of metro Atlanta due to cost, and instead identified a candidate in the less congested and expensive west side of Atlanta.
- Negotiated a long-term lease with a major industrial landlord with substantial tenant improvement allowances and below-market rates within 60 days of receiving the assignment.