Flex Warehouse Operator ReadySpaces Expands to Jamaica
By Rebecca Baird-Remba January 10, 2024 4:41 pm
reprints
Flex warehouse provider ReadySpaces is planning a new 115,898-square-foot outpost in Jamaica, Queens.
ReadySpaces inked a 10-year lease for part of a four-story industrial property at 184-10-184-60 Jamaica Avenue, according to its broker, Colliers. Asking rent was $25 per square foot. The Real Deal first reported on the transaction.
The firm serves small warehouse and e-commerce businesses, providing industrial spaces ranging from 250 to 5,000 square feet and leases as short as 90 days.
Colliers’ Richard Warshauer and Mike Davis represented ReadySpaces, which is working on a multistate expansion effort. Warshauer said in a statement that “we are delighted to have located an ideal, cost-effective lease situation.”
Joseph Lagano and Reid Berch of Avison Young along with Joseph Hentze Jr. of Cushman & Wakefield represented the landlord, KABR.
“We are confident the work being done, including new loading docks, an enhanced façade, the modernization of elevators, new windows, renovated bathrooms, upgraded lighting and more, will continue to bring interest to the building,” said Hentze and Lagano in a joint statement. “We are thrilled to add Ready Spaces to the tenant roster and look forward to the future of the building.”
KABR purchased the two-building, 512,000-square-foot industrial property from Artemis Real Estate Partners in 2022 for $73 million, according to property records.
ReadySpaces has already opened an outpost in Ridgewood, Queens, as well as three locations in Northern New Jersey. It has 36 North American locations spanning nearly 4 million square feet, with warehouses in Houston, Dallas, Miami, San Francisco, Los Angeles, Seattle, Toronto, Denver and Washington D.C.
“The demand has been soaring since launching our first New York City location,” said ReadySpaces CEO Kevin Petrovic, who noted that this was the company’s sixth tri-state area location. “Cementing our expanding footprint on the East Coast, we look forward to serving the many small businesses in this vibrant market.”
Rebecca Baird-Remba can be reached at rbairdremba@commercialobserver.com.
