The Children's Place

 

 

A Perfect Fit.

When The Children’s Place, a fully integrated retailer of children’s apparel, began their relationship with Resource Realty in the early 90s, they couldn’t have predicted how critical it would be to have a strategic commercial real estate partner on their team. Almost 20 years later, this enduring relationship exemplifies the benefits of the Resource Realty business model that combines a wealth of internal experience with the flexibility to develop a network of external resources, both locally and nationally.

 

Rightsizing

500 Plaza Drive, Secaucus 500 Plaza Drive, Secaucus The ability to quickly adjust to changes in the economy is a key to business success, particularly in the ever-changing retail industry. In the case of The Children’s Place, this has required responsiveness first to support rapid expansion of an acquisition, and then to consolidation as the result of a divestiture.

 

In the early 90s, Resource Realty worked with local senior management on a five-year expansion plan that called for short-term warehouse and office space lease negotiations and ultimately consolidation to a new 203,000 SF headquarters facility in Secaucus, NJ. In further support of the expansion strategy, The Children’s Place sought a West Coast distribution facility. Teaming with the right brokers in targeted markets, we were able to secure a state-of-the-art 248,000 SF distribution center.

 

In 2006, The Children’s Place acquired the Disney Store chain, once again creating the need for a variety of corporate real estate support, including the addition of another distribution facility. Resource Realty assembled a team, which included site search consultants to study real estate, labor and economic development incentives. When a site was selected in Fort Payne, Alabama, Resource Realty coordinated securing the construction team, which included builders, construction management, expeditors, and project engineers to oversee the project. The result was a state-of-the-art 700,000 SF distribution facility, which significantly reduces the company's time and cost to market.

 

In 2009, in response to a radically different economy, the decision was made to focus on the successful and steadily growing core business. Resource Realty successfully orchestrated the relocation and consolidation of four office locations into a new 130,000 SF headquarters. The transaction required the negotiation of two lease terminations and coordination of the relocation of an e-commerce operation. One of the largest commercial real estate transactions of the year in NJ , it is projected to save The Children's Place million of dollars over the lease term.

 

When it comes to partnering for business success, Resource Realty and The Children’s Place have been a perfect fit.

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