March 19, 2012

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Article

Pedersen Worldwide Renews Lease

Press Release

March 19, 2012

NAI West has facilitated the global-headquarters lease renewal for Pedersen Worldwide, parent company of Del Sol and Cariloha, based in Sandy, Utah. The renewal comes after months of evaluating available properties before determining through careful planning to remain in its current marquee facility. The location will continue to house growing international retail brands, Del Sol and Cariloha. Pedersen Worldwide also finalized a lease for its new worldwide distribution center at Freeport West’s Landmark Industrial Park in Salt Lake City, Utah.

NAI West Vice President Jack Woodward and associate broker Nick Teseros represented Pedersen Worldwide in the transaction. NAI Global Corporate Solutions Vice President Jason Smith and account executive Erik Simper assisted in the transaction as Pedersen Worldwide’s corporate real estate partner. The landlord, The Boyer Company, was represented by Spencer Summerhays and Jake Boyer.

NAI West Senior Associate Luke Burbank, in addition to Smith and Simper, represented Pedersen Worldwide in the warehouse transaction. Freeport West was represented by Brad Ross and Mark Dewald. Pedersen Worldwide will occupy its new distribution center in the third quarter of 2012.
Speaking of the transaction, Simper said “Pedersen Worldwide had a critical decision to make regarding their use of office space in tandem with its future growth and expansion. In addition to renewing their headquarters lease, they more than doubled the size of their worldwide distribution center, accounting for the ongoing growth of the Del Sol brand, as well as the rapid growth of its sister brand, Cariloha.”

Pedersen Worldwide’s lease renewal is also an example of a growing trend in commercial real estate: expanding, yet focusing on effective and efficient use of office space. Through careful planning and consulting with space experts, agents and landlords, companies like Pedersen Worldwide are able to expand their square footage to accommodate forthcoming growth and productivity, while making better use of other office spaces at the same time.
(3.19.12)

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