 |
|||||||||||
|
Rockefeller Group Development Corporation/IDI Sign 444,000-SF Lease with Kuehne + Nagel 236,000-SF Still Available at Exit 8A Building
Kuehne + Nagel will occupy 324 Half Acre Road in two phases: taking 213,299 square feet in May and an additional 230,404 square feet in September. The newly constructed, Class-A distribution facility features 36-foot clear-height ceilings, 7-inch concrete slab flooring, cross dock configuration and significant trailer storage. The 680,747-square-foot 324 Half Acre Road building was developed in a joint venture between IDI and the Rockefeller Group Development Corp on a speculative basis. The building provides Kuehne + Nagel excellent access to the ports of New York and New Jersey. The Exit 8A industrial submarket is the most active submarket in New Jersey with an inventory of 59 million square feet. Steven Pastor of the CB Richard Ellis New Jersey office orchestrated the Kuehne + Nagel lease deal in conjunction with Bayne Porter and John Porter of the CB Richard Ellis Atlanta office, while Stan Danzig and Jules Nissim of Cushman & Wakefield represented RGDC and IDI. IDI and RGDC are now marketing the remaining 236,000 square feet of space in the building. The two companies have partnered on several projects including the 2004 acquisition of a one-million-square-foot build-to-suit development site within Central Crossings Business Park in Bordentown, New Jersey, from KOR Companies. IDI (www.idi.com) is a national, full-service industrial real estate developer based in Atlanta, providing strategically located properties throughout the U.S. to meet its tenants’ distribution, warehouse and light-manufacturing needs. IDI has developed 125 million square feet of industrial space valued at $5.6 billion. IDI has development offices in Atlanta, Chicago, Cincinnati, Dallas, Fort Lauderdale, Los Angeles, Memphis and Philadelphia. Also, IDI Services Group (www.idisg.com) provides comprehensive property management, leasing and construction management services, currently managing more than 60 million square feet of property for IDI tenants, including third-party owners such as pension funds and insurance companies. Rockefeller Group Development Corporation is a national owner, developer and manager of prestigious commercial real estate properties. The company's capabilities are broad, and include the development of corporate headquarters, landmark properties, multi-use urban complexes, multinational distribution facilities, suburban business parks, and foreign trade zones. Additional information may be obtained at the company's web site: www.rockgroupdevelopment.com. CB Richard Ellis Group, Inc. (NYSE:CBG), an S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2006 revenue). With over 24,000 employees, the company serves real estate owners, investors and occupiers through more than 300 offices worldwide (excluding affiliate and partner offices). CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. In 2007, BusinessWeek named CB Richard Ellis one of the 50 “best in class” companies across all industries. Please visit our Web site at www.cbre.com. |
|||||||||||
 |
|
 |
For more information, contact: Brian Mahoney Steve Webb |
|
|
|
|||||
|
|||||||||||
