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Case Study

Olympus Surgical Technologies America

Scope of services
With the goal of improving operational efficiencies, reducing real estate occupancy costs and maximizing savings through strategic planning and incentives, Olympus Surgical Technologies America, maker of single-use electronic surgical devices, hired JLL to help them consolidate and establish a new international headquarters and innovation center. Their current real estate investment in the Twin Cities consisted of multiple buildings in five locations throughout the northwest metro area. The project would require a national location search and the relocation of hundreds of employees, all within a very tight timeframe.

Success delivered
To face this challenge, JLL’s strategic consulting, brokerage and national incentives practice teams worked together to develop a long-range real estate solution that aligned with the global business plan for Olympus’ manufacturing footprint. After careful review and confirmation of an occupancy strategy, preliminary incentives discussions and potential relocation options, JLL recommended a 180,000 sq. ft. build-to-suit development along the Highway 610 corridor in Brooklyn Park, MN. The $36M mixed-use facility would provide office, warehouse and manufacturing capabilities for Olympus with a negotiated 15-year lease.

Moving forward
Delivering the solution Olympus needed in a tight delivery timeframe while managing the inherent complexities of a global decision process was key to the success of this assignment. The project created a $36M capital investment in the state of Minnesota economy, created 100 new jobs, improved Highway 610 corridor visibility for future development and expanded Minnesota’s presence in the medical technology industry.

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