Real Estate Strategies Corporation Eliminates Millions of Dollars in Agfa’s Occupancy Costs
Real Estate Strategies Corporation Eliminates Millions of Dollars in Agfa Corporation’s Occupancy Costs
Distribution Center Lease Termination a Huge Win!
(Somerset, New Jersey): Andrew Zezas, SIOR, President and CEO of Real Estate Strategies Corporation, announced today that the New Jersey based corporate real estate advisory and transaction services firm negotiated the termination of a lease for Agfa Corporation. The transaction included the termination of a multiple year multi-million dollar remaining lease obligation of a 71,000 square foot distribution center leased by Agfa. The negotiated transaction resulted in the elimination of millions of dollars of costs for Agfa. The property, owned by a New Jersey investment group, is located at 721 Union Boulevard, Totowa, New Jersey.
“The combination of understanding our client’s financial and operational objectives, combined with our insight into the needs of the investor group, led to a transaction that benefited both our client and its transactional opponent” said Andrew Zezas. He added “Through the intelligent application of RealStrat’s Occupancy Arbitrage Services, we succeeded in not only mitigating our client’s long term risk, but in achieving the elimination of a very substantial portion of its remaining financial obligation. In summary, we reduced our client’s occupancy costs by millions of dollars!”
Real Estate Strategies Corporation has advised and represented Agfa Corporation in numerous engagements in the United States and Canada, having completed acquisitions and dispositions of office, distribution, manufacturing, and technology facilities.
About Agfa Corporation
The Agfa-Gevaert Group develops, produces and distributes an extensive range of analog and digital imaging systems and IT solutions, mainly for the printing industry and the healthcare sector, as well as for specific industrial applications.
Real Estate Strategies Corporation has planned and executed numerous real estate engagements on Agfa’s behalf, totaling in excess of 1.1 million square feet around the United States and Canada.
About Real Estate Strategies Corporation
Real Estate Strategies Corporation provides corporate real estate advisory and transaction services to CFOs, Management, and corporate Boards in New Jersey and around North America. Real Estate Strategies Corporation is a major sponsor of CFO Studio and CFO Studio Magazine, and is the sole real estate sponsor of the NJBiz CFO-of-the-Year Award, Financial Executives International – New Jersey Chapter, and the ACGNJ CFO Forum.
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