Corporate

Managing Real Estate Transitions

Corporate change is complex.  Major real estate changes, like plant closings or new expansions, can be unforgiving.  Cohesively synthesizing multiple moving parts, and understanding the long term ramifications to pressured-decisions made within strict time constraints, is where we excel…so you can remain focused on corporate profitability.  We set the bar working with Fortune 500 Companies on some of the toughest M&As in the country; we’ve successfully disposed of millions of square feet of manufacturing space in accelerated time frames and far in excess of anticipated price points; and have located successful new locations for manufacturing businesses in the U.S. and around the world by strategically marrying labor pools, supply chain, and proximity to market.  We focus on the real estate so you can focus on integrating core operating functions and achieving new efficiencies.

When your real estate does not work, nothing else can.  GPS has the solutions, proven track record, and absolute discretion to reposition your company by advising it through inherently chaotic, intensely pressured real estate transitions.  We provide expert change management to real estate transitions; and we are among the most accomplished in the country.

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M&A, Plant Closings and Sale
Whirlpool (NYSE: WHR)
Managed all aspects of the monetization of 5 million square feet of industrial manufacturing space acquired from major M&A with Maytag Corporation, including legal, environmental, community relations, and property sale.

“Thank you for introducing me to Whirlpool Corporation’s sale of Maytag assets.  Your representation of the Fortune 100 Company was excellent and paved the way for a smooth, timely, and efficient closing on 5 million square feet of industrial properties located in three States.  We completed the transaction within a year of the plant closing announcement – record speed!  You really made the difference cutting through the clutter and bringing the parties, including the local community, together for success.  I will recommend Glastonbury to others, and I look forward to working together in the future.”

— STUART LICHTER, President
Industrial Realty Group, LLC


“We are taking these actions to rapidly restore the competitiveness of the Maytag brands.  This is an important step in our integration process [after the Maytag M&A] that will allow us to drive continuing performance improvements and will better align our brands, products and operations with the markets we serve domestically and globally.”

— JEFF FETTIG, Chairman & CEO
Whirlpool Corporation

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Global Office Headquarters Sale, Newton, Iowa 2.5 million SF Industrial
Managed the sale of global headquarters (500,000 SF) and adjacent manufacturing space (2 million SF) for Fortune 100 Company to the largest private owner of industrial real estate in the country and to a leading telecommunications provider.

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Plant Closing & Sale
1 million square foot manufacturing facility
Herrin, Illinois
Managed all aspects of closing and property sale for a Fortune 100 Company, including environmental, community relations, identification of new buyer, and closing.

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Plant Closing and Sale, Searcy, Arkansas
500,000 SF laundry facility
Managed the sale of manufacturing property located in Searcy, AR previously used to assemble washers and dryers and now adaptively reused as pastry plant by a leading bakery.


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Plant Closing and Sale
Florence, SC
422,000 SF industrial property
Managed the sale for a Fortune 100 Company to Hackman Capital Partners


“We see this project as having incredible potential,” said Michael D. Hackman, President of HCP, “The building itself has all the features that you could ask for as a potential industrial tenant.  When you add to that the pro-business climate in the state of South Carolina combined with the support of the economic development professionals in the region and you can easily understand why we feel very good about this investment.”

— MICHAEL HACKMAN, Managing Director

“He [Richardson] had a good sense of the market and the overall situation which allowed the seller to have the confidence to proceed with the transaction.  He also was very organized in getting information to us (the buyer) and this allowed for us to determine if it was an investment that we wanted to make in a very timely fashion.  I would give Glastonbury the highest recommendation to any corporate real estate group that is looking to either dispose of assets or come up with a general real estate strategy.”

— MATTHEW SCHWAB, Founding Partner & Managing Director
Karlin Group LLC

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M&A Real Estate Consolidation and Site Selection
Whirlpool Canada (NYSE: WHR)
Managed consolidation of two Western Canada distribution facilities from the Foothills Region of Calgary, Alberta Canada into a newly constructed single 439,000 SF hub located next to the Calgary International Airport


“The new Calgary regional distribution centre creates a more streamlined and less complex distribution network for our major appliances and is the last significant merger initiative. This will allow us to deliver our products in one consolidated shipment, with one invoice, making it easier for our retail partners to do business with us,” said Susan Promane, Director Supply Chain, Whirlpool Canada.”

— SUSAN PROMANE, Director Supply Chain
Whirlpool Canada
Calgary Herald, December 3, 2008


“This northeast Calgary parcel is a prime location because it is situated near the Calgary International Airport, Stoney Trail (the future Calgary ring road), and major transportation routes, including Deerfoot Trail-Queen Elizabeth 2 Highway, Country Hills Boulevard and Barlow Trail”

— DARREN DURSTLING, Partner, WAM
Calgary Herald, December 3, 2008



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Plant Closing, Repositioning for Sale
Saint Joseph, Missouri
Quaker Oats Company (NYSE:PEP)
Specialty Food Processing Mill
Provided plant closing consultant services to local community when Quaker Oats Company closed a major food mill that produced hot and cold cereals; also provided an economic revitalization study for the community, including an assessment to reposition abandoned downtown manufacturing buildings into loft-style apartments.  The mill was purchased by AgriMark and is now used to make specialty flours.  Hundreds of loft apartments have been developed downtown.

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Plant Closing & Environmental Due Diligence
Georgia Pacific Company
600,000 SF on 930 acres
Managed activities related to disposition including survey, title, market repositioning, and due diligence assessment for acquisition by potential new owner, including extensive environmental review conducted pursuant to a large state grant secured by Glastonbury.

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Plant Sale Assessment and Repositioning
Bethlehem Steel, Arcelor Mittal Steel (NASDAQ: MT)
Managed acquisition planning, negotiation, and redevelopment planning for a potential buyer of approximately 500 acres of industrial property from Bethlehem Steel at the Sparrows Point industrial complex in Baltimore, Maryland previously owned by Bethlehem Steel.

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Plant Sale Due Diligence, Negotiations, and Conveyance
Avesta Sheffield, Outokumpu (NASDAQ:  OMX Helsinki)
1 million SF Stainless Steel Mill – managed acquisition planning, due diligence, negotiations, and conveyance of industrial property, including environmental due diligence.   Today, the property is largely occupied by Weyerhaeuser.





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