We began our relationship with Mr. Lester E. Stockel, CEO of CashFlex, a lockbox and data entry company, in 1986. CashFlex, a company with $2 million in annual sales, was located in 6,000 sq. ft. in Clifton, NJ. We located a 15,000 sq. ft. space at 420 Kuller Road in Clifton, NJ. The second assignment began in 1989 in the suburbs of Washington, DC.
CoreStates Bank acquired CashFlex. Mr. Lester E. Stockel, CEO of CashFlex, departed CashFlex two years after the CoreStates purchase. The total square footage of new sites, relocated sites, and consolidated sites now totals over 340,000 sq. ft. of office space, including 28 locations in the USA and Canada.
Mr. Stockel successfully obtained a $100 million capital commitment from Liberty Capital Partners, Inc. and with this funding he formed the Regulus Group, LLC. Today, Regulus Group has grown into a $200 million annual revenue company with 47 production sites nationwide. The unique relationship with Mr. Stockel and Regulus has given NAI James E. Hanson, Inc.’s Corporate Services Group the experience of managing the growth of a company from $2 million in annual sales to $200 million in annual sales. Throughout this transition we maintained a relationship as their sole real estate provider and in-house real estate department by continuously adding value to their needs.
NAI James E. Hanson, Inc.’s philosophy on service has always been founded on long-term relationships. If our goal were predicated on short-term relationships we would have successfully completed a 15,000 sq. ft. lease at 420 Kuller Road in Clifton, NJ for CashFlex in 1986. One location instead of 47.