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| Texas Pacific Group |
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The Challenge |
Faced with determining the financial soundness of a major National Retailer before investing an estimated $300 million dollars, Texas Pacific Group sought the expertise of CB Richard Ellis in evaluating the Retailer's real estate assets. It was the job of CB Richard Ellis to assess the Retailer's locations, along with those of its local competitors, and deliver a comprehensive report covering 240 properties in four major U.S. markets. The primary obstacle: Time. Given a short due diligence period, the client needed the information within one week. |
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The Solution |
Under the direct co-ordination and supervision of our National Retail Services group, experienced teams in Los Angeles, Cleveland, Pittsburgh and Philadelphia were mobilised to physically visit 60 stores per market. The goal was to provide in-depth local market information on a National level. Part of our strategy was to provide centralised mapping, ensuring all market areas were represented alike. We then developed reporting templates and procedures for the assimilation and presentation of information in an easy to read format, and created a dedicated website to assist with process management and exchange of data and reporting materials. All the while, maintaining open communication between Texas Pacific Group, their Advisors and the CB Richard Ellis Team via conference calls throughout the week.
The results were positive. Within one week, Texas Pacific Group received a comprehensive package, both in book format and electronically. Included was the following detailed information on each of the 240 sites across the country:
- Statistical Summary Report By Market
- Detailed Store Visit Reports
- Income & Population Density Profile Maps
- Drive Time Maps.
Although the proposed investment did not take place, Texas Pacific Group was extremely satisfied and complimentary of CB Richard Ellis and the group's professionalism. Most notable was the Team's responsiveness and ability to perform on such a short deadline. |
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