NKF Brokers Long-Term Lease for Stag Industrial
- Dec 08, 2017
Newmark Knight Frank has arranged a long-term lease on behalf of Stag Industrial Inc. at one of its Ohio warehouses. The new tenant, Columbus-based Palmer-Donavin Manufacturing Co., plans to occupy 230,805 square feet at 382 Rosemont Road in North Jackson, Ohio, by the end of the year.
“This new space offers Palmer-Donavin a well-maintained property with great access to Interstate 76 and the Ohio Turnpike,” said Terry Coyne, NKF Cleveland’s vice chairman, in prepared remarks.
Built in 2001 on a 22.8-acre lot, the property offers a total of 307,315 square feet and features 24- to 38-foot clear heights, 10 drive-in doors and heavy cranes. Recent enhancements include ESFR sprinklers, several docks and a new office segment totaling 2,300 square feet.
Coyne, who brokered the lease, is also marketing the remaining space at the facility. Executive Vice President Michael Mullady and David Ford of CBRE’s Special Properties Group represented the tenant in the deal.
This was not the first time NKF worked with Stag. In the summer, the brokerage was involved in Stag’s fourth industrial acquisition in Pittsburgh.
Image courtesy of NKF