Proximity began work with Winland in 2011 assisting the tire importer in the renewal of a44,100sf warehouse space in Houston. Due to the high hazard classification of tires, improvements were required in order to continue using the facility for that commodity.

Proximity was engaged to research available spaces, tour, and solicit proposals for relocation options as well as renewing at the facility. After multiple rounds of proposals, Proximity secured a significant rent reduction, tenant improvements, abated rent, and an early start date for Winland, enabling them to remain in their space, get the improvements needed at no cost, and enjoy the benefit of reduced rent prior to the old lease expiring.

Soon after, Winland opted to branch out into investment real estate. After searching a variety of options for nearly a year, Proximity represented Winland in the purchase of a 17,000sf multi-tenant retail center that was 100% leased in Coles Crossing. Four months after closing, the end cap restaurant tenant vacated 3 years prior to lease expiration. Again, Proximity assisted in soliciting prospective tenants for the space, and after much scrutiny, signed a tenant for 7 years at a healthier increase than that of the previous tenant. During the following 3 years, Proximity assisted Winland in the renewal of 7 of the leases, assisted our client in vetting property management companies, and eventually sold the property creating a 25% return on initial investment.

Proximity has since assisted Winland in another warehouse renewal, and managed 3 more investment property acquisitions, growing Winland’s presence in Houston from zero to over 67,000sf of income producing properties in 3.5 years. Winland International is just another example of Proximity Commercial Advisor’s dedication to our client’s success. We have enjoyed our part in this amazing growth and look forward to continuing to assist this amazing client in their real estate needs.

Hesselbein’s story is one of mutual trust and the strength of relationships that PCA values so much. Originally, the representatives from PCA and Hesselbein met when the tire distributor was considering warehouse in Houston in 2008. The economic climate of the time precluded most businesses from expansion after the stock market crash so the requirement was put on hold. Over the next 4 years Proximity continued to update Hesselbein as to the state of the market and advised that the market conditions were not ripe for entry. In 2012, Proximity discovered a unique opportunity for warehouse space and the market was ripe for expansion in the tire business and Proximity was engaged to negotiate on behalf of Hesselbein. At the end of the day, Proximity secured a low rental rate on an 80,000sf ESFR equipped warehouse, various lease protection clauses, and a turn-key buildout that included a high piled permit for the storage of tires.

Only two years following Hesselbein’s opening of the above facility, the adjoining neighbor had their broker call PCA to inquire as to whether Hesselbein would be willing to relocate so that they could expand into their space. After months of negotiations, Proximity negotiated $245,000 for new racking, $225,000 as an inconvenience fee, $22,000 for shipping, secured a facility that was 8,000sf smaller, but enabled the client more pallet positions than the previous facility. Additionally, the rent savings on the new facility provided an additional cost savings of $356,000 over the term vs. the former facility.