TIM'S CASCADE STYLE POTATO CHIPS
Auburn, WA
Tenant Representation
Transaction Size: 97,500 Sq. Ft.
Transaction Value: $8,800,000
The Situation
Tim's Cascade Style Potato Chips had plans to expand its product into other regions. They knew they needed to upgrade their antiquated manufacturing plant to provide for future expansion. Their problem was finding a facility that accommodated their needs: Ample power, 30' clear height, rail service, and many other amenities that normally would dictate a build-to-suit situation.
Our Solution
NAI Puget Sound Properties initially completed an exhaustive search showing all the possible build-to-suit sites within a five mile radius that would accommodate Tim's. Midstream through the process, it was determined that the large potato chip maker was going to need space almost immediately. Working diligently, NAI Puget Sound Properties approached Schnitzer Northwest (who we also represented) to relocate two of their existing tenants in their Algona Distribution project to make room for Tim's.
Through our relationship with Schnitzer and knowledge of the market, we were able to structure a 15 year lease with Tim's that had them leasing 98,000 square feet of office/warehouse space. The relocation and lease buyouts of the existing tenants and the lease negotiation between Schnitzer NW and Tim's remarkably took only 45 days. The strategic move by Tim's ultimately saved them approximately $500,000 and gave them ample room for future growth.