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Boerke Industrial Team Instrumental in Grover Corp. Expansion

Deal Overview

Grover Corporation, a Milwaukee based hydraulic seal and piston ring manufacturer with history dating back to 1929, recently completed its relocation into an 85,000 square foot facility locate at 5730 N Glen Park Drive in the community of Glendale.

 

With the acquisition of the facility, Grover was able to consolidate its existing 44,000 square foot Milwaukee plant with its 35,000 square foot Ft. Worth, Texas facility. The move will bring 75 jobs to Glendale and executives at Grover are very optimistic that the improved efficiencies of having everything under one roof will lead to an additional 40 jobs over the next 5 years. The Cushman & Wakefield | Boerke Industrial Team was instrumental in executing the complex real estate strategies that were necessary for a very complicated transaction to occur. The entire process took over 12 months to complete and some of the highlights included:

 

• Site selection – After determining that Wisconsin was the best place to grow, an exhaustive search process ensued which compared Green Field sites vs. Existing buildings. The process led to the Pentair facility located in Glendale, however, there was perception that the distance from the existing plant was going to create stress on the existing workforce. The Cushman & Wakefield | Boerke Team was able to create an insightful employee mapping program that allowed Grover to understand that the site was still very accessible for the majority of the workforce.
 

• Milwaukee Disposition – Grover was situated in two facilities, totaling 44,000 square feet, in a mixed-use industrial/residential area just north of St. Lukes hospital. The buildings dated back to the early 1900’s and there was concern that the buildings could languish on the market for an extended period of time given functional obsolescence. Given the proximity to St. Lukes hospital, the Cushman & Wakefield | Boerke Team was able to locate a mini storage developer that closed on the property prior to Grover even moving out which was a tremendous pressure relief to Grover as they were managing the large capital expenditures of the relocation of the Texas plant.


Summary

“This was the second time that I have been able to help Grover in expanding their business. While it was pleasure to advise on the acquisition of a neighboring property the first go around, the opportunity to work on a project that lasted in excess of 12 months is really where our Team can deliver the most value to a client.” stated Jeff Hoffman, Co-Chair of the Industrial Service Practice. “There were several critical pressure points within this transaction that at any given point in time were creating challenges. We had incredible team alignment with Grover throughout the entire process which allowed our client to experience an optimal outcome in the real estate process.”

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