Hoechst Celanese owned numerous real estate assets throughtout the country prior to their recent demerger. We began working with them by evaluating a 180 acre tract of land that included the closed fibers divisions 800,000 square foot manufacturing facility in Greenville, South Carolina. We evaluated the market and discussed the needs of Hoechst Celanese, then completed a master plan that transformed the site into both a regional distribution center for the corporation and a mixed use development opportunity. This allowed Hoechst Celanese to save 14 million dollars per year in their products division. We then identified land that could be transformed into a development that would benefit Greenville. Today, hotels apartments, restaurants and First Carolina Bank’s headquarters have moved to the site in accordance with our masterplan.
Hoechst Celanese next engaged us on similar assignments for their properties in Ottawa, Illinois and Austin, Texas. They also asked us to masterplan their headquarters site in Bridgewater, New Jersey to accommodate their expansion plans and create venues and projects on site for the Bridgewater community.
Our assignment included brokerage activity such as lease negotiations for office space and listing and selling of obsolete sites. We further provided management services for environmental clean up and assisted them in converting sites to alternative uses. Once the value of the property was greatly enhanced through the development plan, it was sold to a real estate developer who has continued to convert the property as envisioned.