The company relocated from a nearby facility, expanding to 40,000square feet from 24,000 square feet. Tom Getner from Transwesternrepresented the landlord, RREEF.
The JDS deal is typical of the flux in the leasing market, he tellsGlobeSt.com. Generally speaking, there has been a strong run ofrenewals among tenants "but in some cases concessions have beenimpossible to ignore," Bosica tells GlobeSt.com. Some tenants are taking advantage of good dealsto upgrade their space; others are taking advantage of quality B spaceto downgrade and save even more money. "There has been a flight toquality and at the same time, a flight away," he adds.
JDS is an example of the latter, Bosica says. It moved from class A spaceto a class B property that is well located and well managed. "It ispaying only a bit more per month for all this additional space." Rates have come down for bulk/distribution anywhere from $4 a square foot to $4.50a square foot, triple net, he says.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
