Fortune 500 Building Materials Manufacturer

Opportunity:

As it neared the end of its long-term lease, a Fortune 500 materials manufacturer hired Silverlode to assess alternatives for its headquarters. The headquarters was a 400,000 square foot waterfront building in the downtown of a Midwestern city. The 20 year old building, which was designed by renowned architect César Pelli, needed significant reinvestment. Although the company wanted to retain their headquarters and continue to catalyze neighborhood growth, the renovation costs were prohibitive.

Solution:

Silverlode helped the client to evaluate several options which ranged from remaining in their existing headquarters to building a new headquarters building that better suited the Company’s current needs. Ultimately Silverlode negotiated an extension of the client’s existing Tax Increment Financing (TIF) structure and was able to secure favorable financing from the state to enable the client to remain in its downtown headquarters. The company retained 1,250 jobs for the city.