Challenge
 
Due to internal consolidations, Federated Department Stores was faced with empty and obsolete distribution centers in the New York Metropolitan area. For over one year, Federated was unable to dispose of these facilities and obtain efficient facilities. 

Federated had several brokerage companies working on the same requirement and the logistics department was unraveling.

Solution 

Senior management at Federated Department Stores turned to CB Richard Ellis and Bill Waxman to head their marketing campaign as well as locate suitable distribution centers along the east and west coasts.

Within in 9 months, surplus facilities in Maspeth, Queens, Keasbey, New Jersey and Wayne, New Jersey, were sublet at an annual profit/savings of over 2.5 million dollars.

It was determined in Florida, Philadelphia, and California that maintaining ownership of existing owned facilities as well as renewing leased facilities would be the best overall solution. CB Richard Ellis assisted Federated Department Stores in obtaining the best possible costs and lease terms renewing and extending their existing leased facilities.