DATE: 2014-01-09
When money talks, people listen. Especially when the money is in the hands of the U.S. Mint.
So Synergy Real Estate Group paid close attention when it was contacted by the inventory manager of the Mint’s San Francisco branch for assistance in locating potential warehouses to accommodate the Mint’s growing inventory storage needs.
The Mint employs more than 2,800 workers at its six U.S. facilities. One is a depository, one is Mint headquarters in Washington, D.C., and four produce coins, including the San Francisco division under the direction of Deputy Director Richard A. Peterson.
John Galaxidas”In early 2012, the facility had outgrown its warehouse operation for limited-issue commemorative coinage,” said John Galaxidas, CEO/President of San Diego-based Synergy Real Estate Group. “So the inventory manager contacted Adam Sass, executive vice president in our Oakland office.
“Adam worked closely with Mint staff to identify properties in the South San Francisco, Millbrae and Brisbane areas in the 50,000- to 60,000-square-foot range. They narrowed it down to two or three that met the Mint’s requirements in the event it decides to relocate its 50,000-square-foot warehouse facility from its current location in San Francisco.”
When the decision is eventually made, Synergy will assist Mint headquarters with contract negotiations in its ongoing role as a corporate real estate adviser.
“The Mint relationship is a good example of our specialty,” Sass said. “What we’re really good at is representing tenants exclusively. They might know what they want but can’t always get a picture of what’s available for them in the market. We can help them track that down.
“It requires a lot of data crunching. We advise clients on what their best options are, and expose them to current inventories that could suit their needs. Once they decide on a location, we handle the negotiations and work to get them the best terms based on our knowledge of the market. We bring a lot of market knowledge to the table that lets us get a much better deal than the client would on their own.
“Clients come to us because they know the right property is out there but they don’t know how to find it. A lot of time, they’re dealing with the landlords, and as the owner’s representative, they’re giving a very limited picture of their own properties, not the full spectrum of what’s available.”
– By Glenn Grant, The Daily Transcript