CASE STUDIES

Utrecht Art Supplies

Essentia Mattress

Fantastic Sams

CHALLENGE
Utrecht Art Supplies had been working with a broker in Southern California for six months, to no avail. They had contacted that broker with the hopes of opening two new retail stores and relocating a current store in Santa Monica. Once the contract with the old broker expired they engaged Mr. McEvoy's team. Their requirements were few, but strict. They needed high ceilings, open space with plenty of natural light, and they preferred being in close proximity to university campuses. Additionally, due to the fact that the company is based in New Jersey, all site analyzing and negotiation would be done virtually and telephonically.

STRATEGY
After learning of Utrecht’s requirements, Morgan McEvoygathered a comprehensive study of Los Angeles County universities, as a means of understanding the varying art programs in the area. Once the areas with the largest art programs were established, The teamtook it upon themselves to physically drive the markets, taking note of the availabilities and the off market buildings that were worth pursuing. This strategy allowed for a different and more proactive approach to getting Utrecht into the buildings and the markets which would allow their company the greatest amount of success.

SERVICES
In addition to the services previously mentioned, the team was able to contact over 1,000 members of the Southern California brokerage community with a marketing campaign to inform the marketplaace of the needs of Utrecht Art Supplies. The team also provided Utrecht with a full market overview and written analysis of all on and off market availables that fit their criteria. Once the sites had been selected by management, the team guided Utrecht into leases and ensured that the process went smoothly to the benefit of their business.

RESULTS
Utrecht Art Supplies had two offers out within three weeks of enlisting the help of Morgan McEvoy. Both properties were stand alone buildings within one mile of universities that had very strong art programs. The company leased a building next to California State University at Fullerton and was able to sign a long term deal at a very reasonable rental rate with all the build out costs covered by the landlord. The team was also able to beat out Chase Bank in Santa Monica to open their west coast flagship store at Licoln (Hwy 1) and Ocean Park. The team was then hired to help in San Jose, Miami and Houston. Ultimately, Blick Art supply ended up buying the brand in 2013.