Challenge: BOB was founded in San Luis Obispo, CA but the costs of living, real estate and doing business in the area was hampering this booming company’s growth. They needed a new west coast headquarters outside the state of CA for their headquarters, R&D and distribution facility and preferred ownership over leasing.
Result: Working with the owner of the company we established a short list of west coast communities that had the lifestyle amenities, affordable real estate and business climate the company was looking for. A list of parameters by which each community would be judged on was developed which included cost of residential and commercial real estate, educational opportunities, outdoor recreational activities, access to public lands, medical facilities and general cost of living. Contact was initiated with the economic development entities in each of the communities to understand incentives offered to business relocating to the areas and to assist in gathering the community level data. Potential sites and/or buildings were identified in each of the communities and effective occupancy costs were developed including land, entitlement, construction and operational costs for each of the potential sites. Initial community visits were made and potential sites were visited leading to a short list of potential locations. Offers and/or RFPs were prepared for the short list locations and the physical, financial and lifestyle amenities of each option were reviewed with the owner and his staff. Through a process of elimination an existing building in Boise Idaho was selected and a purchase agreement was negotiated. Upon completion of the due diligence the company completed their relocation concluding a successful site selection process.