Location:
Cincinnati, OH
Sale-leaseback:
An International logistics company sold this asset to our client and signed a 15-year lease to stay on site.
Project Overview:
This is a 24/7 logistics facility. We worked with the buyer during their due diligence to set the budget and scope for necessary repairs due to severe deferred maintenance around the site.
This is a NNN lease and the tenant set aside money from the sale to complete and pay for the repairs.
This site had some significant concrete repairs to surface drains around the dock and maintenance building. We designed a process of saw cutting and chipping away of the concrete to pour new 8-inch wide and 8-inch thick concrete ribbons to hold new traffic-rated drain grates.
Our original scope of work included a full 2-inch mill for the entire site. Due to the constant traffic and excessive amount of tractor-trailers on site, it was extremely difficult to see all of the damage to the asphalt. Once the site was swept and cleaned we were able to identify all of the damaged areas of the asphalt. The damage was not structural in nature but rather mostly surface erosion and delamination of the top layer of asphalt from the lower level. The lower level of asphalt was structurally sound throughout the site.
With this information, we switched gears during construction to change the scope. We modified the scope to only perform the transitions milling and installed a ½ inch leveling course prior to the 2-inch overlay. This allowed us to thicken the asphalt section and increase the elevations. This increased the water flow and should mitigate any standing water around the site. This change in scope also saved our client about $35,000.
