Fit Story
Fostering Atom Banana's Expansion Amidst Supply Constraints
CLIENT PROFILE
- Established in 1906, Atom Banana is a revered family-owned banana wholesaler
- Known for delivering high-quality produce with a rich heritage in the industry
- Committed to modernizing operations and expanding reach while maintaining excellence
REAL ESTATE FIT GOALS
- Expand into a new construction building in Chicago’s Stockyards neighborhood
- Secure a state-of-the-art cold storage facility to accommodate growth and drive efficiency
- Ensure proximity to existing location at the Chicago International Produce Market
The Challenge
Atom Banana’s expansion plans were hindered by the scarcity of suitable infrastructure in the desired location. The company required a large footprint to support its growing operations, but the market lacked existing state-of-the-art cold storage facilities. Although multiple new construction projects were underway, they were designed as traditional warehousing spaces, necessitating significant retrofitting to meet Atom Banana’s specific requirements.
The Solution
Bespoke proactively collaborated with Atom Banana well in advance of their desired expansion date, recognizing the urgency and complexity of their requirements. Leveraging deep market insights and strong developer relationships, Bespoke initiated lease negotiations while the selected site was still in the early stages of development. By securing favorable terms over 18 months before the building’s completion, Bespoke provided Atom Banana with ample time to plan the interior buildout, ensuring seamless integration with their unique operational needs.
The Outcome
Through strategic negotiations and timely action, Bespoke helped Atom Banana secure a lease with below-market rental rates, aligned annual escalations, and substantial tenant improvement allowances. The ongoing rental abatements during the buildout phase allowed Atom Banana to collaborate effectively with the general contractor, ensuring cost-effective execution of the project. With Bespoke’s guidance, Atom Banana successfully navigated the challenges of expanding into a new facility, laying the foundation for continued growth and operational excellence in a state-of-the-art cold storage environment.
“Thanks to Pete Billmeyer and Bill Lussow, we now have a fantastic new warehouse that meets all our needs and positions us for future success. I highly recommend their services to any business seeking top-notch commercial real estate expertise. They are a great team to work with!”