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Goulston Tech Disposal Case Study

BACKGROUND


Hart Corporation was hired by Goulston Technologies as exclusive agent for the sale of their idled 82,258 square foot Monroe, North Carolina facility, located approximately 22 miles southeast of Charlotte. Monroe was a former Rodel, Inc. manufacturing facility built to produce chemical mechanical polishing products for the semiconductor industry. This modern high tech plant was fully operational with all mechanical and much of the chemical process equipment in place, but was never put into production. When Rodel, Inc. was acquired by Rohm and Haas, this facility remained decommissioned and was later acquired by Goulston Technologies, but remained a like-new facility in an idled state. The plant was highly unique, comprised of two adjacent linear manufacturing bays, one of which was designed for clean manufacturing, with 18’ clear ceilings under dropped acoustic tile with epoxy coated floors. This bay was supported by a 16,250 square foot penthouse process area, 29’ above ground level, featuring dedicated switchgear, 4” concrete slab accommodating cutouts for process equipment, and serviced by a variety of process piping. The building at its peak had a clear ceiling height of 54’. Climate and air-pressurization was fully controlled and automated by an Andover Building Management System. Additional amenities included a spacious modern lobby, executive offices and laboratory space.

A 5,200 square foot polymer room with 4' sunken floors, equipped with a variety of reactors, tanks, and piping provided the process area that supported the coating and packaging to be carried out in the clean manufacturing bay. The polymer room was supplied via transfer piping to an outdoor bulk stainless steel 86,000 gallon tank farm, with solvents recycled via a Koch Technologies distillation column.

A separate utility building housed the facility’s mechanical systems including: air-compressors, boilers, chillers, and DI water system providing process chilled and hot water, DI water, steam, compressed air and process vacuum.

THE CHALLENGE


Given the unlikelihood of finding a buyer making the exact same product, this project required a marketing approach that presented this unique facility in a way that was readily comprehensible and relatable to other logical manufacturing applications. Simply describing building specifications on a print brochure would not suffice to convey the facility’s workflow and potential for reuse. For specialized properties, in addition to our high quality brochure mailings, Hart Corporation utilizes dedicated interactive websites, custom tailored to meet the specific marketing needs of our listings. We constructed a menu driven website featuring picture galleries of interior, exterior and aerial photography including views of the facility’s mechanical and process equipment. Photography was accompanied by associated text providing specifications, explanation of how the building was utilized, as well has suggestions for potential reuse. The website also provided related document downloads including: Facility Brochure, Floor Plan, Site Plan, Equipment List, Community Information, Industrial Park Information as well as an interactive map of the region.

THE PROCESS


Hart Corporation’s Corporate Accounts Division maintains contact with key decision makers of practically every multi-plant, multi-distribution center firm, both domestic and international, with a presence in the United States, as well as the investment community comprising local, regional and national firms. Our regional offices maintain contact with firms located in their territories, along with local, regional and state economic development agencies and contacts. Through this direct and ongoing contact we maintain an extensive, accurate and up to date mailing list.

Our marketing campaign for Monroe began with a full national mailing to all our corporate and investment contacts as well as a regional mailing to firms within a wide vicinity of our listing. This included mailings to the economic development community as well as our Hart Group International brokerage affiliates throughout the region. Additionally, our listing information was uploaded to Loopnet, Costar, the local community and state economic development websites, as well as our corporate website. Finally our dedicated interactive facility website was published to the Internet.

A target marketing campaign to logical users of this type of facility was being prepared to provide an additional level of exposure to the property, however; shortly after our regional mailing went out, we received an inquiry from a Board Member of the Swedish hardwood floor cleaning products company Bona. Bona was underway with a site selection for a build-to-suit facility in the Southeastern United States and at the time of their call, had narrowed their search down to sites in Greensboro and Lexington North Carolina. Based on an initial review of our brochure, it appeared that our Monroe facility might fit the requirement for their project and this was reinforced once the Monroe website was explored. The Board Member instructed us to immediately email the brochure and website to management in Sweden and within one week, an entourage from Europe came in for an inspection of the property. This was quickly followed with an inspection by the President and Vice President of Operations of Bona USA. Shortly thereafter the building was under a Purchase and Sale Agreement.

THE CONCLUSION


A challenge arose during due-diligence on finding a way to demonstrate that the mechanical and process equipment was intact and in good working condition, without the untenable cost of starting up the facility. Hart Corporation contacted the engineering firm Parsons, who designed the facility and installed the facility’s systems. The Parsons engineer involved with the original project was hired to demonstrate to Bona the building’s systems and their working condition. A hydrotest was utilized to test the process equipment. All concerns were satisfied, Bona went to closing and this project was successfully completed.

Properties of this nature require creative marketing solutions that make these facilities readily comprehensible, conveying detailed information that can move easily throughout an organization to those with the expertise to make an evaluation, recommendation and decision. Our marketing methods, along with our extensive database of user contacts resulted in quickly finding a Mr. Right buyer for this challenging facility and we completed the transaction, with all equipment intact, at the high end of value.

Goulston Tech Case Study PDF

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Monroe, NC Brochure

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