Vending Concepts, a Dallas-Fort Worth based full-service vending machine sales company, had outgrown its 10,000 SF facility and was approaching the end of their seven (7) year lease term.
Due to company growth, which was anticipated to continue for the foreseeable future, Vending Concepts sought to purchase an office/warehouse building that totaled 25,000+ RSF and offered a large enough site to accommodate its fleet of box trucks.
In May 2019, Vending Concepts enlisted Erik Blais of Bradford Commercial Real Estate Services with the goal of locating a suitable purchase option to serve as their new HQ and distribution center.
The Solution
Assessed clients needs, including analyzing future growth projections, to create a detailed set of requirements. Compiled list of 12 buildings that met requirement set, touring six (6), before narrowing the options down to two (2).
Using extensive market knowledge and local broker relationships, Bradford was able to successfully identify an off-market opportunity during the initial site selection process.
Over a period of four (4) weeks, Bradford moved quickly to tour the property, review building systems, and negotiate the framework for a purchase contract.
The Results
Bradford successfully negotiated a purchase contract at a significant discount from the asking price and with terms that allowed Vending Concepts to avoid paying rent at their existing location after closing occurred.
In February 2020, Vending Concepts closed on the purchase of their new HQ and distribution center, a 29,500 square foot facility situated two (2) acres, at 1001 Miller Avenue in Fort Worth, TX.
Through Bradford’s relationships within the market, Vending Concepts was able to capitalize on an off-market opportunity, at a favorable price point, that will support projected company growth for years to come.
