Larry Johnson, with CB Richard Ellis, represented ProLogis. Johnson was joined by Brian Fogelberg.
The park is a new location for Jacobson due to "some additional business," he says. The facility will be used a regional distribution center for "a leading manufacturer of dinnerware products," says a spokeswoman for ProLogis. The manufacturer is not being disclosed at the request of tenant, the spokeswoman says. Some of the company's clients include Procter and Gamble, Heinz and DuPont, according to a statement.
The company also chose the location because of its proximity to Interstate 80 and the fact that the building was immediately available, Picchiotti says. The facility also offered exterior trailer parking, he says. "It just fit their needs," he says. The building was constructed in the 1980s with ProLogis recently completing improvements, including the floors getting redone, new lights and an upgraded sprinkler system. "They had a very tight time frame and we were able to meet that and get all of the work done in a timely fashion," he says.
The asking lease rate for similar space in the area is in the "high 3s, net," he says. There were no lease incentives, but the building does have reduced real estate taxes because of its location in the village, Picchiotti says.
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