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Electrical contractor pivots real estate strategy to support future growth

September 30, 2021 Case Study 1 min read
Mike Carl Plante Moran Cresa Sean Abelarde Plante Moran Cresa
When Serve Electric outgrew its old space, the company reached out to Plante Moran Cresa to help find a location suited to its future business needs.
Serve Electric flex-space building in Sterling Heights, Michigan, USA

The challenge

Serve Electric is a full-service electrical contractor based out of the Metro Detroit area. With a growing business line and the need for a space more suited to its long-term strategic objectives, the contractor reached out to Plante Moran Cresa (PMC) to analyze its space needs and outline a real estate strategy to accommodate rapid growth.

The solution

PMC worked with Serve Electric’s leadership to understand its current space utilization and determine the factors that would contribute to an ideal work environment. Senior Vice President Mike Carl and Consultant Sean Abelarde of PMC’s tenant representation team then searched the Metro Detroit area for available space for lease, built-to-suit opportunities, and buildings for sale within Serve Electric’s specifications. While analyzing potential opportunities, PMC conducted travel time studies to ensure that any new space would be optimally located within range of Serve Electric’s staff and existing customer base.

With PMC’s assistance, Serve Electric successfully negotiated the purchase of a flex-space building in Sterling Heights, Mich. The location offers a dynamic office area with ample warehousing space for equipment storage. Our team worked hand in hand with the company to execute the expansion activities and negotiate a favorable purchase agreement to reduce upfront capital costs.

The benefit

“Mike Carl and Plante Moran Cresa took the time to listen and understand Serve Electric’s needs of today, but also where we hope to be in the future,” said Scott Clode, CEO of Serve Electric. “Their expertise and process challenged us to consider things that we wouldn’t have otherwise. I believe we are now positioned well to grow while meeting the goals of our shareholders in our new facility.”

PMC’s tenant representation team is proud to add another success story to our already impressive list of client expansions. Our team has spent the last 25 years working with companies who recognize the value of an experienced tenant representation firm for their commercial real estate brokerage needs. Contact us to learn how we can help your business.

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