Category: Real Estate Advisory
Subcategory: Acquisition & Lease Strategy
Problem: In 2001, the Axis Group was designated by the New York City Economic Development Corporation to operate an auto processing center at the South Brooklyn Marine Terminal in Sunset Park, Brooklyn. In order to commence operations, the project required the negotiation of a proper lease with EDC, a series of environmental reviews and approval of the lease by the New York City Council.
Strategy: In order to secure all the necessary approvals, Capalino+Company formulated and implemented an aggressive outreach plan to secure the support of the local community, labor and business leaders for the project.
Result: Axis Group was successful in obtaining across the board support for the project. This included a unanimous resolution of support by the local community board, support by the local Councilmembers, numerous labor unions, community workforce development organizations and Brooklyn business groups. As a result, governmental approvals, including approval by the New York City Council, were completed in a timely fashion.