Industrial Supplier Fastenal Takes 10K-SF Warehouse in the Bronx
By Isabelle Durso October 23, 2024 1:25 pm
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Industrial supply seller Fastenal has signed a long-term lease for a new 10,347-square-foot warehouse in the Bronx.
Minnesota-based Fastenal, the largest fastener distributor in the U.S., will use Simone Development’s 1385 Commerce Avenue in Westchester Square for offices, warehouse space, and storage of construction materials and hardware, according to the landlord.
It’s Fastenal’s most recent deal with Simone in the last few years, following the distributor’s long-term lease for 7,100 square feet at nearby 1448 Ferris Place in July 2023, Simone said.
“We are thrilled that Fastenal Company has once again chosen a Simone Development property for their latest expansion,” Josh Gopan, vice president of leasing at Simone, said in a statement. “The building’s excellent condition and accessible location with proximity to major highways and public transportation make it a perfect fit for Fastenal.”
Spokespeople for Simone and Fastenal did not immediately respond to requests for further comment.
The length of the lease and asking rent were unclear, but a report from Cushman & Wakefield found industrial rents in the outer boroughs averaged $28.21 per square foot during the second quarter of 2024.
Simone was represented by an in-house leasing team, while DY Realty’s Mathew Diana brokered the deal for Fastenal. Diana did not immediately respond to a request for comment.
Fastenal has already moved into the warehouse, which features 20-foot ceiling heights and two drive-in doors, and is close to the Cross Bronx and Bruckner expressways.
Fastenal, founded in 1967, also previously ran a 12,800-square-foot fulfillment center at 1600 Stillwell Avenue, as Commercial Observer previously reported. It’s unclear if the company still operates in that space.
Isabelle Durso can be reached at idurso@commercialobserver.com.
