Matsuura is an innovator in the development of high-speed machining and the manufacture of automated, unmanned high accuracy CNC machine tools built from the ground up to run unattended. IAG Commercial was asked by Matsuura Machinery USA to help them review space options in the market and the option of possibly staying in their existing building. Options included buying vs. leasing and a possible space expansion and relocation as the existing location worked but was not most ideal.
Matsuura faced some challenges in defining their expected growth over the next twelve years and new leadership was being groomed to succeed the existing CEO and CFO, who were tasked with taking the lead on this space decision. In addition, inflation was running over 7% and market uncertainty left many landlords wondering was what going to happen with inflation in the coming years. Last, all new building options were buildings either under construction or proposed for new construction so touring acceptable buildings was not an option.
IAG researched the market and completed the financial modeling on leasing vs. owning. Once the decision was made to lease, IAG completed the financial modeling for leasing space in a new building vs. in their existing building, including tenant improvement requirements. It was then decided staying in the existing building made the most financial and functional sense for them.
IAG Commercial represented Matsuura Machinery USA in renewing their lease of 38,630 sq ft of office/industrial space for ten additional years, eleven total with one remaining year on their existing lease.