Customer:
This world power in engineering and manufacturing provides products and services in many fields, including electrical connectors and switches, pumps, valves, mixers, and other fluid technology products defense systems and services, and industrial components.

Program Challenge:
ITT had made a decision to move out of an existing building that no longer met its needs. The lease on ITT's existing building expired in just six months, and if they didn't have a new facility to move into, they would miss the window of opportunity to move to a new facility and be locked into their existing building for several more years. Faced with this challenge, ITT turned to Nexera, a Butler BuilderŪ, for the solution.

Solution:
Nexera quickly contacted Butler Real Estate for its single-source build-to-suit for lease development services. Butler Real Estate examined ITT's credit and the project's requirements. Within a few days, a customized Butler Real Estate lease proposal, accompanied by Nexera's construction proposal was delivered to ITT. In less than thirty days the lease was signed. Land was then purchased with financing provided by Butler Real Estate and construction began ten days later. Five months later ITT moved into its new 39,000 sq. ft. facility in Colorado Springs, Colorado. Impressed by the speed at which their exact needs were met, ITT called on the Nexera/Butler Real Estate team again concerning a second opportunity - a 125,000 sq. ft. office facility which was also to be built in Colorado Springs.

Customer Benefits:
With a narrow window of time to work within, Nexera and Butler Real Estate moved quickly to eliminate the "red tape" normally associated with conventional loans. This assured the customer that its new facility would be ready for occupancy when needed.

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