The Challenge |
When two giants in the home appliance industry merged in 2001, Maytag and Amana were faced with several challenges in their distribution network. Maytag suddenly found itself with dual distribution centers in seven regional markets across the country. The newly merged company wanted a real estate partner who could handle the disposition or sublease of both the old Maytag and Amana facilities in each market, but also help them establish a new, streamlined distribution network in key distribution hubs across the US. The goal was to consolidate fifteen regional distribution centers (RDC's) to seven. |
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The Solution |
CB Richard Ellis' Inland Valley Partners Team, based in the Ontario, CA office, in conjunction with CB's Global Logistics Group, was able to present Maytag with the full-service solution they were looking for. Inland Valley Partners' relationship with local brokers in each of Maytag's target markets through the Global Logistics Group made getting information in each market a simple process. Each local brokerage team worked with Maytag through IVP to market Maytag's existing spaces for sale or sublease and begin the search for new facilities.
The End Result
To date, Maytag has completed seven leases for properties in, North Liberty, IA (750,000 SF), Atlanta, GA (527,000 SF), Scranton, Pennsylvania (390,000 SF), Seattle, WA (196,000 SF) Mira Loma, CA (455,000 SF), Dallas, Texas (300,100 SF) and Brea, California (120,700 SF). On the disposition side, the sale of Maytag's facility in City of Industry, CA (372,000 SF) was completed with a short term lease-back until the new Mira Loma distribution center was complete.
From October 2001 to December 2003, Inland Valley Partners has completed 8 deals equating to ±3,107,000 SF in six different marketplaces. |
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