Challenge
Throughout recent decades, Lincoln Electric, a Fortune 1000 manufacturer, has modified its approach to regional and local sales and service of welders and related products. Prior to Allegro’s involvement, the company acquired facilities throughout the United States to serve as district sales offices and training facilities. In the 1990s, the client determined it did not need to own these facilities and began a transition to a leased real estate portfolio. The increased volume of real estate activity, resulting from relocation and lease renewal activities, led the client to engage professional real estate resources to manage this portfolio.
Solution
Since 1996, Allegro has served as Lincoln Electric's outsourced Real Estate Department, managing a real estate portfolio of 75 to 100 locations, comprised of more than 1,000,000 sq.ft. in 35 states and provinces. Allegro assisted the client through the final stages of its transition from owned district sales offices to leased locations. Considering its requirement for training space and the associated parking requirements, the client’s facility needs have demanded a clear understanding of its business operations and guidance to select from few viable market alternatives. As the client’s sales strategy has continued to evolve, so have Allegro’s services. In more recent years, Allegro has facilitated the consolidation of district sales offices and the replacement of secondary offices with shared service executive office packages. Further, over the course of our relationship, Lincoln Electric has utilized Allegro’s services to address several other real estate matters related to its corporate headquarters, distribution network, and motor service centers.
