Porsche Cars North America, Inc. - Commercial Real Estate Case Study - Cushman & Wakefield

C&W Makes Porsche's Vision a Reality


Porsche
Click to enlarge

The Challenge

Porsche Cars North America (PNCA), the U.S. distributor for Stuttgart, Germany-based Porsche AG, has long envisioned occupying a headquarters that uniquely reflects the company's world-class brand, culture, and identity – a home worthy of its storied history and legendary high-performance automobiles. PNCA's vision included not only an office headquarters to house approximately 300 Atlanta-area employees, but also a multi-functional property that would enable it to showcase its cars on a customer-experience track, provide training facilities for technicians, and enable the company to host special functions to entertain dealers and customers. In 2010, PNCA engaged Cushman & Wakefield to lead a confidential project to investigate the feasibility of bringing the vision to reality.

 


The Solution

Cushman & Wakefield brought together a multi-disciplined team of transaction, financial consulting, and business incentives professionals to work on PNCA’s behalf. During a year-long search, the project team evaluated more than 70 locations within Georgia and out of state. As the screening process moved forward, it became clear that a former Ford Motor Company assembly plant site near Atlanta’s Hartsfield-Jackson International Airport, re-envisioned as a new 130-acre mixed-use development called Aerotropolis, was the logical solution. Not only could the project deliver a state-of-the-art headquarters facility, but also a unique product-marketing experience via a Porsche Customer and Driving Experience Center, the fourth in the world, joining Porsche tracks in Germany, the United Kingdom, and China.

 


The Result

Cushman & Wakefield negotiated a flexible transaction that allows PCNA to lease or purchase the build-to-suit facility, which will be sited on 27 acres of land adjacent to I-75. The final incentives package included discretionary grant assistance from state and local authorities to offset the initial cost associated with the proposed project, as well as refundable state job tax credits, property tax relief, recruitment and training support, expedited permitting, renaming of highway exit signs, infrastructure improvements, and a state-sponsored marketing campaign. Proximity to the world’s busiest airport gives the company a high-profile location and will enable PCNA’s out-of-town visitors to avoid commuting into the city. Additionally, the 175,000-square-foot building, designed by HOK, will be an architectural landmark and rival the compelling designs of PCNA's products. Delivery is scheduled for 2013.