Co-Warehousing Startup ReadySpaces Takes 90K SF in Ridgewood

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Flex warehouse operator ReadySpaces has leased 90,000 square feet of space in a Chetrit-owned industrial property in Ridgewood, Queens, according to the tenant’s brokers.

The 10-year deal at 59-10 Decatur Street, between Forest and Myrtle avenues, is ReadySpaces’ first lease in New York City, The Real Deal reported last week. The brokers involved in the deal declined to provide the asking rent for the space.

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The WeWork of warehousing has more than 25 locations across the U.S. and Canada and offers smaller, move-in ready industrial spaces ranging from 250 to 5,000 square feet. It also allows tenants to take shorter-term deals than a traditional triple-net industrial lease with a landlord.

“At long last, we have found the right spot for the first ReadySpaces in New York,” said the company’s co-founder, Kevin Petrovic. “We can’t wait to open our doors and provide turn-key, flexible and secure spaces, with a straightforward leasing experience, to entrepreneurs throughout the city.”

ColliersRichard Warshauer and Mike Davis represented ReadySpaces in the deal, while David Junik and Steve Nadel of Pinnacle Realty brokered it for the owner, Isaac Chetrit’s AB & Sons. Nadel and Junik didn’t immediately return a request for comment. 

Demand for quality industrial product has accelerated at an incredible rate as the pandemic has increased the need for more warehousing and logistics facilities,” Warshauer said in a statement. “With record-low vacancies, finding an appropriate industrial property and negotiating favorable terms — in New York no less — was no small feat.”

The Chetrits have owned the 216,000-square-foot warehouse on Decatur Street since 2000, when they purchased it from the Fruchthandler family’s FBE Limited, public records show.

Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.