Greensboro, NC | 188,000 sq. ft.
Volvo Truck retained Triad Commercial to examine its leases on several office buildings located in the immediate vicinity of its Greensboro, NC campus. Volvo’s baseline footprint for leased space was approximately 200,000 square feet spread amongst six office buildings. Volvo also needed to accommodate approximately 10% growth.
Once engaged by Volvo, Triad Commercial ran a process comparing blend and extend opportunities with a new consolidated build-to-suit building on available land adjacent to Volvo’s corporate campus. Through a competitive bid process with developers, Volvo was able to lease a new 128,000 square foot build-to-suit office building at a lease rate 15% below what Volvo was paying on 25 year old Class B buildings. The new building provided efficiencies that accommodated growth without additional square footage. The largest and best quality existing building was a 60,000 square foot building which was the location for Mack Truck's World headquarters. This lease was renewed at a 20% rental savings.