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Cushman & Wakefield Arranges 60,000-Square-Foot Distribution Center Lease for Automotive Supplier
DYK Automotive will Distribute throughout the Northeast from the Newark, Del. Location, its Fourth U.S. Warehouse
By: Caryl Communications, Inc.
"We considered sites in central Pennsylvania and ultimately chose Delaware with its transportation access," said Felici. "DYK Automotive also required a specialized building to store flammables. This particular building formerly housed a paint distributor, so it already had the proper sprinkler system and other specifications needed in a second-generation building."
"This was a unique requirement involving a component of product storage that was difficult to meet from a code perspective,"
The lease at 650 Pencader Drive, a 125,000-square-
"When we acquired the company in 2008, all of our leases were coming due," says Don Youngblood, president and CEO of DYK Automotive, the parent company of three aftermarket entities. "We brought Kemp Conrad and his team on board, and they have done an excellent job of representing us nationally, renegotiating existing leases and completing renewals on our behalf. The new site in Newark, Del. is the fourth warehouse in our system."
"It is a tenants' market right now, and we have been able to lock in good, long-term rates in these transactions,"
Cushman & Wakefield, Inc.'s industrial brokerage platform provides global resources for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2010, this group completed more than 4,800 industrial real estate transactions nationwide - totaling 141.6 million square feet in leases and 52.9 million square feet in sales - with an aggregate value of nearly $5 billion. This represented a year-over-year revenue increase of 26.7 percent.