Cushman & Wakefield Arranges 50,000-Sq.-Ft. Lease for 3G Distribution
New Entry into the Reno/Sparks Market for Third-Party Logistics Company
Sparks, Nevada (I-Newswire) October 9, 2012 - 3G Distribution has leased 50,000 square feet at 745 Coney Island Drive in the Coney Island Industrial Park, Building 10. The Edison, N.J.-based Cushman & Wakefield team of Daniel Badenhausen, senior director, and Andrew Stypa, senior director, working with Brian Armon, managing partner of Commerce Real Estate Solutions in Reno, represented 3G Distribution, a client, and the landlord.
With the signing, 3G Distribution, based in Farmingdale, N.Y., marks its entry into the Reno/Sparks market. The third-party logistics company, specializing in integrated operations, warehousing and transportation services, is expanding its distribution operation on the west coast.
"3G's site search spanned the entire region, and this site met all of the company's requirements," said Badenhausen. "The Reno/Sparks area provided the perfect access point for where 3G is conducting business on the West Coast."
"Reno/Sparks is a good growth area for our firm," said Larry Frisina, president of 3G Distribution. "Geographically, we can reach 13 western states, and 11 of them are just a one-day drive. As a result, it's an ideal location for our East Coast customers to distribute their products faster and more economically." As a distributor of finished products for a variety of customers, the firm is currently looking at industrial sites in southern Florida. Along with the Sparks warehouse, the company operates facilities in New York, New Jersey, and California.
The signing comes as the Reno/Sparks industrial market continues to improve. The area remains a tenant/buyer market with rents and sale prices remaining stable.
About Cushman & Wakefield
Cushman & Wakefield is the world's largest privately-held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world's major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917 it has 235 offices in 60 countries and more than 14,000 employees. It offers a complete range of services for all property types, fully-integrated on a global basis, including leasing, sales and acquisitions, debt and equity financing, investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $5.5 billion in assets under management through its wholly-owned subsidiary Cushman & Wakefield Investors. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.
About Caryl Communications, Inc.
Caryl Communications, Inc.
40 Eisenhower Drive
Phone : 201-796-7788
Published On:October 9, 2012
Print Release:Print Release
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