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Pandemic-related closures fed a tremendous amount of pent-up demand throughout the retail industry. New York City industrial and light manufacturing companies continue to be on the frontlines of elevated economic uncertainty—playing out on both domestic and global stages.
However, it’s important to remember that some companies, including many of our city’s most innovative and resilient businesses, have viewed this historic period as a time of growth and new opportunity.
Our client, a wholesale distributor with a solid growth strategy, recently expanded its operations in New York to reach a larger national clientele. The project is representative of how many NYC companies emerged from the Pandemic with a positive outlook on their future potential.
An established business saw new opportunities to expand its client base to include top-tier national retailers.
They experienced a renewed sense of urgency to rethink capital assets to leverage new industry wide trends in distribution strategies, advanced technologies, and ancillary product lines. This momentum to move forward, not stand still, was despite current high real estate costs and financing rates.
We are thrilled to have been a part of this success story! ThinkForward secured $25M (90%) in financing to ensure the company could relocate to a newly renovated 90,000-SF facility.
As a result, the wholesale distributor servicing the retail industry moved its operations into a much larger warehouse with 30’ ceilings to accommodate increasing sales and inventory levels, as well as customized facilities for staging rollout projects, a key strategy in the company’s growth plan. Class A office space supports the acquisition of new customers nationwide. The facility sits on a 2-acre lot with parking, in an up-and-coming Brooklyn neighborhood.
ThinkForward strategically marketed the credit to its network of lenders, emphasizing the retail market’s enthusiastic reception of an expanded product line and the resulting significant positive exposure for our client. We leveraged our long-term relationships with lenders, financing sources, and financial allies to secure the necessary financing.
What can we do for you?
Pandemic-related closures fed a tremendous amount of pent-up demand throughout the retail industry. New York City industrial and light manufacturing companies continue to be on the frontlines of elevated economic uncertainty—playing out on both domestic and global stages.
However, it’s important to remember that some companies, including many of our city’s most innovative and resilient businesses, have viewed this historic period as a time of growth and new opportunity.
Our client, a wholesale distributor with a solid growth strategy, recently expanded its operations in New York to reach a larger national clientele. The project is representative of how many NYC companies emerged from the Pandemic with a positive outlook on their future potential.
An established business saw new opportunities to expand its client base to include top-tier national retailers.
They experienced a renewed sense of urgency to rethink capital assets to leverage new industry wide trends in distribution strategies, advanced technologies, and ancillary product lines. This momentum to move forward, not stand still, was despite current high real estate costs and financing rates.
We are thrilled to have been a part of this success story! ThinkForward secured $25M (90%) in financing to ensure the company could relocate to a newly renovated 90,000-SF facility.
As a result, the wholesale distributor servicing the retail industry moved its operations into a much larger warehouse with 30’ ceilings to accommodate increasing sales and inventory levels, as well as customized facilities for staging rollout projects, a key strategy in the company’s growth plan. Class A office space supports the acquisition of new customers nationwide. The facility sits on a 2-acre lot with parking, in an up-and-coming Brooklyn neighborhood.
ThinkForward strategically marketed the credit to its network of lenders, emphasizing the retail market’s enthusiastic reception of an expanded product line and the resulting significant positive exposure for our client. We leveraged our long-term relationships with lenders, financing sources, and financial allies to secure the necessary financing.
What can we do for you?
NYC agencies are encouraging investments in IndustrialBusiness Zones (IBZ).This is good news for real estate developers and building owners hoping to attract manufacturing and light industrial tenants through redevelopment of their properties. Financial assistance through the NYCIndustrial Development Agency (NYCIDA) can make a sizeable contribution to most capital stacks.
For many organizations, delaying a project means delaying future success. Tax credits and economic incentives can help fund the next step forward in any mission-driven organization’s growth and evolution. Considering the life line that these programs can represent, let’s take a few moments to understand what incentives are and how to tap into the potential for your company.
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