Cushman & Wakefield Arranges 27,000-Square-Foot Lease for Importer
NEW CASTLE, Del., March 27, 2013 - Cushman & Wakefield, Inc. has arranged a lease of 27,000 square feet for CAD Import Inc. at 600 Ships Landing Way in New Castle, Del. The signing, for a three-year term, was arranged for CAD by Ernie Felici, Jr. and John Birmingham, III of Cushman & Wakefield's Wilmington, Del. office, along with Bob Wheatley of Alliance Real Estate Professionals of Laurel, Del. The Landlord, Gedric DE LLC, was represented by Mitch Berkowitz and Sean McCue of Deaton McCue and Company.
Located within Twin Spans Business Park, the 600 Ships Landing Way is the second location in Delaware (Seaford) for CAD, which also has a location in Ohio and Guatemala. Operating primarily as an importer, CAD will utilize the New Castle site for exporting as the company expands and diversifies into that sector.
"It's a true American success story," said Felici. "The owner came to the U.S. from South America, initially worked for a Sussex County poultry business, and saved enough money to open his own company. CAD has been importing health and beauty products from Central America for distribution to retailers all over this region, and is now entering the export business. In Delaware, there is a lot of governmental assistance for the export business from the State of Delaware and from the federal SBA.
"Because of the nature of CAD's business, the focus of the site search was proximity to the Port of Wilmington, which this location provides," said Felici. Constructed in 2003, 600 Ships Landing Way also provides easy access to I-95, I-295 and I-495.
"Overall, the market is a bit slow, but steady," said Felici. "It's still a tenants' market, and right now there are not a lot of sizable users. In New Castle County, there is currently a lot of space available."
Cushman & Wakefield's industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2012, in the U.S. alone, this group completed more than 7,020 industrial real estate transactions - totaling 261 million square feet - with an aggregate value in excess of $8.43 billion.