Success Stories
You can trace CoreDispo's leadership success back to the 1980's, when Gerard Staudt was broker and the Director of Leasing for 2,000 leases covering 20 million square feet in Manhattan.
This site contains the achievements of CoreDispo employees prior to CoreDispo.
REPOSITIONING & SALE
Ontario, Canada – Industrial:
Johnson Controls Automotive Group
- 381,000 SF
- Sold in 6 months
- $18M – savings
REPOSITIONING & SALE
Ontario, Canada –
Warehouse/Distribution:
International Comfort Products
- 310,500 SF
- Obsolete buildings. Major practical use issues.
- Sold within 11 months
- $35M – savings
REPOSITIONING & SALE
Manufacturing, Office & Land:
Carrier Corporation
- 816,000 SF
- Small market – huge facility
- Closed in 9 months
- $40M – savings
REPOSITIONING, LEASE, BUYOUT/TERMINATION, SALE
Manufacturing & Office:
Ambac Industries and United Technologies
- 315,000 SF
- $36 M Lease Obligation
- Distressed market
- $10 M savings created
REPOSITIONING, SALE
Manufacturing – Land:
Johnson Controls Battery Group
- 180,000 SF
- Significant title and environmental issues
- Disposition team solved all issues solved and asset sold in 45 days
- Maximized pricing at $15M which was 15% above target price
REPOSITIONING, LEASE, BUYOUT/TERMINATION
Office:
IMS Healthcare
- In 6 months – leased 122,000 SF in a distressed market with 30% vacancy
- Property had been on the market 2 years before we were retained
- Achieved $5.5M in lease cost savings
- Largest transaction in that market
REPOSITIONING & SALE
Manufacturing:
Motorola
- 443,000 SF facility on 40 acres
- Nogales, Mexico
- 1 month sooner than target timing
- $400,000 above target price
- $11M sale
REPOSITIONING & SALE
Global Manufacturing and Office:
Johnson Controls
- A September to remember…
- 7 sales in 21 days completed
- 4 countries and 3 states in 3 different currencies and languages
- $26M in cash to our client
LEASE, ASSET MANAGEMENT
Office & Retail:
Nippon Life Insurance & Prudential
- One and Two Prudential Plaza, Chicago, Illinois
- 2,100,000 SF
- Core Dispo founder was Leasing AVP, Asset Manager, Nippon Life
- $470 M sale price in 2006 after our leasing and tenure
LEASE , ASSET MANAGEMENT
Manhattan Office & Retail:
Nippon Life Insurance & Equitable
- 1285 Avenue of the Americas, N.Y, N.Y.
- 1,800,000 SF
- Core Dispo founder was Leasing AVP, Asset Manager, Nippon Life
- Value increased after our tenure: $1.6 B is most recent sale price
REPOSITIONING & SALE
Manufacturing & Office:
Agilent
- 800,000 SF; 4 buildings; 300 acres – vacant & outdated space
- Represented 10 years of total space absorption in market area
- Delivered Savings over $7M
REPOSITIONING & SALE
Land & Recreational Buildings:
Agilent Technologies
- 1400 acres – Rocky Mountains
- Conservation challenges to preserve native animals, flora and fauna, and environmentally sensitive wetlands
- Recorded a conservation easement to preserve recreational use in perpetuity
LEASE
Manhattan Office & Retail:
First Winthrop Properties –
Former MacArthur Foundation Property
- 535 – 545 Fifth Avenue, N.Y, N.Y
- 320,000 SF
- This is one of 14 N.Y towers for which our founder was Director of Leasing
- Maintained over 95% occupancy
REPOSITIONING, LEASE
Manhattan Office and Retail:
Castro Convertible Corporation
- 43 West 23rd Street, N.Y., N.Y.
- CoreDispo founder’s first major repositioning and lease transaction
- 110,000 SF
- $16 M lease value
LEASE, SALE LEASEBACK
Office & Data Center:
Carrier Corporation
- Global Carrier HQ
- 118,000 SF
- Delivered high target price with lowest market rent and best legal terms
- Sold at maximum value to client within end-of-quarter deadline
SALE
Office & Manufacturing: Motorola
- 84,000 SF facility in a distressed submarket
- Identified a purchaser in 5 months
- Closed transaction 3 months ahead of target
- 20% higher sale price than client target.
- Client awarded disposition team a 50% bonus fee
LEASE
Manhattan Studio, Theatre,
Office & Retail:
First Winthrop Properties –
Former MacArthur Foundation Property
- 535 – 545 Fifth Avenue, N.Y, N.Y.
- 320,000 SF
- Maintained over 95% occupancy
SALE & LEASE
Asia-
Singapore, Korea, India
53 Cities – Office and Manufacturing:
Motorola
- 8.8M SF – 53 cities
- 75 transactions
- Singapore – 537,000 SF – building sale
- Korea – 270,000 SF – office lease renewal
- India – 96,000 SF – building sale
LEASE, REPOSITIONING, BUYOUT/TERMINATION
Retail, Office:
CitiFinancial
- 639 Transactions – 48 Months
- $12.8 Million Remaining Liability
- $8.6 Million Savings
SALE
Office:
Hamilton Sundstrand
- 138,000 SF
- Remote location and distressed market
- Sold in 10 months 9% higher price than target
- $15 M Savings to client
LEASE
Manhattan Office & Retail:
First Winthrop Properties –
Former MacArthur Foundation Property
- 757 Third Avenue, N.Y, N.Y.
- 500,000 SF
- This is one of 14 N.Y towers for which our founder was Director of Leasing
- Maintained over 95% occupancy
REPOSITIONING, LEASE, SALE
Manhattan Office:
Citicorp
- 60 Hudson Street, N.Y., N.Y.
- Telecommunications, Data and
Office Building - Formerly known as the
Western Union Building - 800,000 SF
LEASE , SALE LEASEBACK
Office & Retail:
First Union Bank
- 175,000 SF regional HQ
- Prior team failed at selling at $6.9 M target price
- CoreDipso beat timing deadline by 26 days
- Sold at 7.9 M – $1 M higher than target
SALE
Data Center:
Computer Sciences Corp.
(Herndon, VA)
- 89,000 SF
- Sold for above book value in distressed market
- 23% higher than client’s target price
- $7.5 M sale price
LEASE
Manhattan Office & Retail:
Fred F. French Company and
Met Life
- 551 Fifth Avenue, N.Y., N.Y.
- 430,000 SF
- Exclusive lease agent
- Created and maintained 95% occupancy
- Maximized leasing and asset value
REPOSITIONING
Mixed Use:
Pratt & Whitney
- Corporate HQ
- 7200 Acres (1.7 Million SF) total
- Sold 150 Acres (540,000 SF)
- Re-Zoned, Subdivided, Sold
- $50 Million Savings
SALE LEASEBACK
Industrial:
York Air Conditioning
- 1.6 Million SF HQ Campus
- 780,000 SF Excess Space
- Space Planning, Environmental,
Title, Utility and Site
Separation Issues - $25 Million Sale Leaseback – 11 Months
SALE
Office:
South Carolina DMV
- Dispose of 300,00 SF
- Distressed Tertiary Market
- $18.5 Million Sale in 9 Months
- $21 Million OPEX Savings
LEASE, BUYOUT / TERMINATION
Manhattan Office:
Computer Sciences Corp.
- 1325 Avenue of Americas
- Sublease to gain release of
$3M lease obligation - Disposed of 25,000 SF
- Delivered $3M hard cost savings
