Lee & Associates Secures 180,000-Square-Foot Industrial Listing
Torrance, CA – July 11, 2013 – (RealEstateRama) — Coming on the heels of the $12 million sale of 5 Empire Boulevard in May, Jeffrey M. Miller of Lee & Associates New Jersey has now been selected as the exclusive broker for the leasing of Meadows 5 Empire on behalf of the Sitex Group based in New York and Chicago.
Miller has already leased 44,000 square feet of this 180,000-square-foot property under a long-term agreement to Empire Warehousing and Distribution, a Los Angeles-based third party logistics company. This high quality corporate facility, which is near Met Life Stadium and 10 minutes from NYC, is located in the Meadowlands Teterboro Airport hub, one of the most sought-after sub-markets in the country.
According to Miller, Sitex will be transforming the property through an extensive renovation program, converting the facility into a modern Class A asset. Capital improvements include new T-5 lighting, new mechanical systems, a new roof with a 20-year warranty, high density sprinklers, all new docks/equipment and the addition of trailer parking. This keystone locale offers up to 15,000-square-foot offices to suit with over 120-car parking and the potential for an outlet store. With construction well under way, delivery is slated for August 1, 2013.
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 48 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Indiana, Illinois, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 700 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.
