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October 8, 2013 [CASE STUDY]
[Type text] [Type text]
ELP 029 –Terminal Relocate
Situation:
Saia’s operations team identified El Paso (11420 James Watt Dr.) location
as undersized based on current door pressure measurements. The
owned facility had become too small and it was determined to explore
opportunities to accommodate the current and future needs of the El
Paso facility.
Solution:
Working with the operations team, Saia’s real estate team identified a
location that would meet the current and future growth requirements
for a facility that acts as a major line haul hub. The property included
enough capacity to accommodate additionally features such as a
maintenance shed and already included a fueling station which would be
able to serve the high volume of traffic that the location receives on a
daily basis.
End Result:
Saia’s real estate team was able to successfully negotiate favorable terms
with the landlord which included a much desired option to purchase the
strategically located facility. In addition the real estate team was able to
secure a lessee at their previously occupied owned facility which will
provide a future revenue source for years to come. While real estate
revenue is not Saia’s primary objective, Saia now receives revenue from
three separate agreements which also include a cell tower lease and
existing sub lease of a neighbor who currently occupies a section of the
acreage which Saia currently does need at the new facility.
Saia real estate also took advantage of the relocation and to begin the
implementation of a branding strategy to develop a consistent brand
across Saia’s real estate portfolio by standardizing areas such as finishes
and signage. While this initiative still has a long ways to go El Paso
hopefully provide the first step executing a broad based plan to develop
consistency across the Saia family.
Testimonial
Transaction: Brian Ashmore (Director of
Real Estate)
Project Management: Jesse Kelley (Real
Estate Manager)
Location: ELP 029 (431 N. Clark Dr. El
Paso, Tx)
Use: SAIA LTL Terminal
Property Statistics:
‐10.16 Acres
‐39,400 SF Dock Area
‐4,000 SF office
‐71 Dock Doors
‐12,000 Gallon UST
Lease:
‐10 year initial term
‐Triple Net Lease
‐Includes existing sub tenant &
associated revenue
‐Includes Cell Tower lease agreement
and revenue
‐Purchase option through February 28th,
2014