Plante Moran Cresa negotiates favorable lease for automotive manufacturer
AM General is an automotive manufacturer specializing in the design and assembly of commercial and military-grade vehicles. In the past 100 years, AM General has built and maintained over 1 million vehicles and over 300,000 automotive systems in more than 70 countries.
At the beginning of 2020, the company recognized the need to test the current marketplace against its existing manufacturing facility in Franklin, Ohio. AM General then engaged Plante Moran Cresa (PMC) to provide strategic guidance and evaluate its real estate options within a strict timeline.
Using our real estate expertise, PMC provided AM General with a lease rate analysis by comparing the company’s existing lease agreement to those of similar industries in the Greater Cincinnati region. PMC then presented several strategic locations for sale and lease to compare to the company’s current location.
After testing the market, PMC was able to renegotiate favorable lease terms with the existing landlord to more accurately reflect market value. The new lease agreement also included significant tenant improvement dollars.
As a result of partnering with PMC, AM General was able to easily navigate its real estate options, confidently move forward with a strategic decision, and make significant adjustments to its lease agreement within a short time frame.
At Plante Moran Cresa, we are proud to make real estate easy for our clients. Contact us today to talk about your upcoming real estate decision and discover your options.