Rail Fastening Manufacturer to Relocate N.A. Headquarters from Southern N.J. to Memphis
Cushman & Wakefield has facilitated a full-scale site selection and relocation advisory assignment for Pandrol USA, resulting in an economic incentive-fueled corporate headquarters move from southern New Jersey to Memphis. Headed by Matthew Marshall and Jeffrey Williams, based in Cushman & Wakefield’s Philadelphia office, a team of commercial real estate services experts from three states was involved in the 18-month initiative, including site selection/brokerage, incentives consulting and project development specialists.
Pandrol USA, the North American subsidiary of France-based Delachaux Group, manufactures rail fastening products. The organization is the global leader in its specialty, with more than 1.4 billion products in service in over 100 countries, according to the company’s website.
Pandrol USA’s long-term commitment, involving a 233,000-square-foot facility at 611 Winchester Road, is being supported by a 15-year, $1.5 million Community Builder PILOT from the Economic Development Growth Engine of Memphis and Shelby County (EDGE). The firm will invest significantly in renovation work and equipment to improve the single-story manufacturing and warehouse building, which is owned by Olymbec USA. The move will create 73 jobs, and manufacturing production will commence in Q3-2019.
“Our site search spanned three states and involved dozens of strategic scenarios,” said Marshall, who co-managed the assignment with Jeffrey Williams. They worked closely with Kemp Conrad and Owen Mercer of Cushman & Wakefield Commercial Advisors in Memphis, Stamford, Conn.-based incentives specialists Jane Orlin and Ann Peterson of Nashville, TN and Jim Adams of Cushman & Wakefield Project Management Services in Philadelphia.
“As a cohesive team, we were able to capture every single element of this project – from site selection, to tenant representation to project management,” said Marshall. “This project has provided a significant economic benefit to Pandrol USA through lower occupancy costs and greater proximity to their customers in the Southeastern United States. We also negotiated an overall incentive package which was instrumental in Memphis winning this highly attractive tenant. Ultimately, by cross-selling our various service lines we leveraged Cushman & Wakefield’s full platform to yield a successful outcome for Pandrol USA.”
Orlin added, “By providing significant economic value and enhancement to the entire region, this relocation was a win-win for the company and the community.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
