Tenant Representation for Fortune 500 Company
Tenant Representation for Fortune 500 Company
Finding a 600,000 SF home in Rhode Island.
The Challenge
The Real Estate Department of a Fortune 500 company was investigating the potential of locating a new mutual fund center in the state of Rhode Island, required a search that would be both comprehensive and confidential. They hired Capstone Properties to represent them in this matter.
The Assignment
Inventory all possible buildings that could support an initial 100,000 SF use on minimum 20,000 SF floor plates.Inventory all office parks or suitable accessible land that could be developed into a 500,000 SF office building with sufficient land to support required parking if structure parking were not built.
The Solution
Capstone reviewed more than 10,000,000 square feet of existing buildings and over 1000 acres of developable land over a two-year period.A likely site was found in North Smithfield, Rhode Island, due in part to its proximity to Route 295 & Route 95.Working with the state, municipalities, and various economic development teams, Capstone helped put together a comprehensive package to bring the company to Rhode Island.
The Result
The project in North Smithfield opened in 1995. Now home to more than 1,000 employees, the project has been a huge success for both the company and Rhode Island.