Challenge 

Fuji Film planned to relocate their New Jersey Headquarters Facility of 450,000 square feet and wanted to investigate several New Jersey sub-markets for this relocation. 
 
Solution
 
The New Jersey Industrial Team of Mindy Lissner and Joe Nitti  was engaged by Fuji's representatives to undertake the site selection and negotiation of their New Jersey headquarters.

After evaluating the assignment, the New Jersey Industrial Team developed a three phase methodology which has been used consistently with corporate clients when searching for a new location.

Phase one is a strategic planning phase which involved defining the specific criteria that were important to Fuji.  During this phase the project team was assembled including design and construction professionals, as well as financial services professionals.

During this phase all markets were researched with a focus on such items as government incentive programs, tax abatements, labor and transportation costs.

Phase two, the transaction phase, included identification and evaluation of all prospective properties.  A business case was prepared that included and compared the advantages and disadvantages of each property.

At this point the list was reviewed and analyzed and a property was chosen in Edison, NJ. This property was the best alternative because of its ideal location, cost-effective rental rate, availability of labor and tax abatement which was negotiated with the township.  This phase culminated with negotiation and signing of lease document.

The final phase was project management where the New Jersey Industrial Team oversaw the planning and construction of the new facility through occupancy and culminated with post-occupancy evaluation.

The facility that now houses Fuji is a 465,000 square foot office/distribution facility in Edison, NJ.  The transaction value was in excess of $30 million.