Cushman & Wakefield Arranges 50,000-Sq.-Ft. Lease for 3G Distribution
SPARKS, NV, Oct. 5, 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.