Commercial real estate news releases from Avison Young
Quarterly and topical research insights to help your business gain competitive edge in commercial real estate.
Avison Young arranges YesWay Logistics expansion into 252,000sf space at Tac Pal Logistics Center
Deal highlights third party logistics centers as the regional industrial lease driver for spaces 250,000+-sf
Philadelphia, PA – Avison Young has negotiated a new lease on behalf of a real estate fund advised by Crow Holdings Capital for 252,000 square feet (sf) at the Tac-Pal Logistics Center in Palmyra, New Jersey.“After years of hard work and perseverance, we’re thrilled to finally be able to welcome a top-quality company like YesWay to our community,” said Palmyra Mayor Gina Tait. “Job opportunities and a substantial increase in annual revenue for our residents and taxpayers for decades to come, are just a few of the reasons we’re so excited.”
The real estate fund advised by Crow Holdings Capital, the building owner, was represented by Avison Young’s Matthew Marshall, Principal, Jim Scott, Principal, and Jack Owens, Associate, who are based in the firm’s Philadelphia office, and Chuck Fern with Cushman & Wakefield, co-broker on the listing. The tenant, YesWay Logistics, was represented by Jason Barton, Executive Vice President with Cushman & Wakefield in Edison, New Jersey.
“The YesWay Logistics transaction is significant for the Tac-Pal Logistics Center and the Borough of Palmyra, as the industrial master-planned development was always envisioned to be a significant source of economic development for the community”, said Marshall.
With state-of-the-art warehousing and fulfillment facilities located at key points within the State of New Jersey, YesWay empowers its partners through a suite of advanced commerce solutions that go beyond mere storage services.
“None of this would have been possible without our redevelopment partners Sansone, and the team at Crow Holdings Capital,” continued Tait. “We’re thrilled to be working with them, and we thank them for helping make this a reality.”
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.
www.avisonyoung.com
Follow Avison Young
Twitter (News) │ Twitter (Deals) │ Blog │ LinkedIn │ YouTube │ Instagram
Media contact:
Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.
www.avisonyoung.com
Follow Avison Young
Twitter (News) │ Twitter (Deals) │ Blog │ LinkedIn │ YouTube │ Instagram
Media contact:
- Nathan Reyna, Regional Media Relations & Content Specialist, Northeast: +1.917.877.1697