R&D Facility Closure:
San Francisco, California

The Client

The client is a leading biopharmaceutical company dedicated to providing medicines and treatment for solid and hematologic cancers. Innovation and advancement are a main focus for this client, with a strong commitment to making a difference and improving both cancer care and the lives of those with cancer.

The Challenge

The client was closing a 50,000 sq. ft. San Francisco lab facility that housed 500 surplus lab and analytical assets. The multi-building site needed to be cleared out within a 45-day time frame. As a result of eliminating the workforce at this facility, the company didn’t have the necessary resources to manage this asset disposition project. Further complicating matters, it wasn’t clear which assets needed to be sold since the client had yet to determine which items would be redeployed to other locations.

The Solution

The client approached EquipNet with its defined objectives of clearing the site on deadline and earning maximized sales returns from the surplus inventory. EquipNet prepared a customized project plan that included a global webcast auction event and the negotiated sale of premium assets via the EquipNet MarketPlaceTM. This plan allowed the client to protect premium assets by setting high reserve prices.

EquipNet provided onsite turnkey project management to ensure that all inspections and removals were conducted successfully and provided the client with the option to ship its remaining assets to a warehouse facility on consignment. This final sales strategy provided our client with additional time for the premium surplus equipment to be marketed for maximum returns, while still clearing out the facility on time.

EquipNet concluded the project by seamlessly handling the post-sales process. We scheduled particular dates for customer pick-ups instead of allowing them to coordinate removal of the equipment whenever they wanted; ensuring that all post sale activity was conducted in an orderly and controlled fashion.

The Result

EquipNet was able to provide a completely turnkey service that obtained the site clearance our client needed, and provided substantially higher returns on its surplus assets than anticipated. EquipNet met the company’s 45-day deadline and recovered $1.1 million in sales proceeds. This effort was a completely self-funded endeavor that left the client very pleased with the choice of its asset management vendor.

Highlights
Number of Assets
500

Sales Proceeds
$1.1 Million

Equipment Categories
Assorted Lab and Analytical Equipment

Services
Project Management
Global Consignment
Auctions
Worldwide Logistics
Negotiated Sale
Facility Closure Management

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