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Pak-Tec

2031 & 2100 Carolina Place Drive
Charlotte, NC

Client: Pak-Tec is a family-owned company that provides industrial labeling and adhesive solutions across the Southeast, United States.

Assignment: Beginning in 2017, Pak-Tec engaged Henri Gresset & Childress Klein’s Brokerage Services Team to establish a long term strategic plan for their headquarter office and warehousing operation in the Carolinas.

Childress Klein’s Brokerage Services Team analyzed and presented various options: purchasing an existing building, ground-up development, and leasing. We determined owning was in Pak-Tec’s best interest, and began simultaneously exploring developing a building versus purchasing a building. Childress Klein uncovered two off-market properties in Fort Mill, SC: a 20,000 SF flex building, and a parcel of land suitable for development.

Impact: Childress Klein consulted Pak-Tec during development underwriting, and simultaneously compared the costs to acquire an existing property and retrofitting costs – these parallel paths allowed Pak-Tec to determine the superior and more economical strategy. Ultimately, Pak-Tec purchased the 20,000 SF Class A flex office warehouse building, and established a top quality headquarters presence in an ideal location. In 2020, after the building underwent construction enhancements, Henri and the Childress Klein Brokerage Services Team secured a tenant to lease +/-3,000 SF of excess office space in the building, bringing-in rental income to Pak-Tec, improving our client’s real estate position even further.

Location

Charlotte, NC

Client

Pak-Tec

Size

40,000 SF

Year Completed

2016 to 2018