Banner Glass has been in the Washington DC and Baltimore region since 1956 when they first opened in Silver Spring, Maryland. Since then, Banner Glass has been the clear (glass) choice of business and residents throughout the region. Capping off 60 years in business, Craig Kates represented the esteemed glass company by helping them negotiate the lease of a new facility at 665 Lofstrand Lane in Rockville, Maryland.
The Challenges of the Transaction:
In late 2015, Craig Kates was charged with finding Banner Glass a new home in Rockville because they had placed their own building under contract to be sold. At the point Banner Glass engaged ROSSI CRE to represent their search for a new location, settlement was just over two months away. This presented Craig with the challenge of working within a very tight time frame. Banner Glass preferred to avoid any unnecessary, added rental expense that would result in the event of extending the lease beyond the two month window given to them. The new buyer of the building had its own plans for the current Banner Glass space. While moving to temporary space would buy some needed time to locate a more suitable long term facility, it would prove to be expensive, require two moves and in every respect, be far from ideal. Further complicating matters was the client’s need to have a facility that can accommodate large buses. In addition to plate glass installation in commercial and residential buildings and windshield repair, one of their specialty areas is the repair and replacement of glass for buses. This requires that any new facility must include a larger than standard drive-in bay door. This limited the available options, further complicating the task.
The Resulting Success:
Fully recognizing the needs of his client, Craig focused on checking each box associated with Banner’s requirement, while uncovering several cost effective options near their existing Rockville Pike location. Craig skillfully navigated and executed the nuances of lease negotiations with the kind of expertise and care for the end result that Banner Glass is known for delivering to its customers when installing glass. Thankfully, their prior concerns did not materialize as Craig’s efforts and diligence resulted in finding the best solution and completing the transaction, securing an on-time move in for Banner Glass.
After the new lease was complete and nearly a week prior to the sale of their old building, the installation of a new ’14 roll-up door and other finishing touches were being completed and Banner Glass began moving and staging supplies and equipment into the space adjacent to their new 5,300 square foot facility at 665 Lofstrand Lane. By prioritizing the needs of the client, Craig and ROSSI successfully saved Banner crucial time and money while keeping their client from suffering the logistical nightmare and additional expense of moving into temporary space.
To learn more about Banner Glass, visit their website www.bannerglass.com.
To learn more about Craig Kates, visit his bio page here: Click Here for Craig Kates.
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