Exel, Inc. Secures 130,205 SF in IDI’s NorthPort Distribution Center
Third-party Logistics Provider to Occupy Facility Adjacent to NJ Turnpike
Atlanta, March 31, 2010 – IDI, a leading full-service industrial real estate company, has signed a new lease with Exel, Inc., a third-party logistics provider, in Elizabeth, NJ totaling 130,205 square feet. The NorthPort Distribution Center facility at 699 Kapkowski Road will be occupied beginning summer 2010.
Exel, the leading provider of contract logistics services in North America, will use the space for distribution and warehousing. Exel will share the space with Shipco, a global import-export services firm, which will occupy 212,500 square feet in the building starting April 2010.
IDI was represented by Frank Petkunas, senior vice president and regional development officer, as lead negotiator with assistance from Paul Torosian and Nate Demetsky of Cushman and Wakefield. Frank Caccavo of Cushman and Wakefield represented Exel in the lease deal.
“Exel is a well-respected third-party logistics provider, and we are thrilled to have them as a tenant in this superior facility,” said Petkunas. “Proximity not only to the New Jersey Turnpike and nearby ports, but also major points of entry along the East Coast corridor make this an exceptional location,” he added.
NorthPort Distribution Center features 72 docks and two drive-in doors, 36-foot clear heights, and parking for 27 trailers and 121 cars. The facility is constructed of architecturally articulated and painted insulated precast concrete panels with seven-inch thick 4000 PSI non-reinforced concrete sealed with Ashford hardener sealant and a ballasted single-ply EPDM (rubber) roof.
About Exel, Inc.
Exel is the North American leader in contract logistics, providing customer-focused solutions to a wide range of industries including retail, consumer, technology, automotive, life sciences, chemical and industrial. Exel’s innovative supply chain solutions, skilled people and regional coverage, bring together all aspects of contract logistics in addition to a wide range of integrated, value-added and specialist services. Exel is a wholly owned entity of Deutsche Post World Net, the world’s leading logistics group. For more information, visit www.exel.com.
IDI is a leading, full-service real estate property company with a singular focus on industrial real estate. The company provides development, investment, property management and leasing services supported by eight market-focused offices. To date, IDI has delivered 63 world-class business parks, and developed and acquired 134 million square feet of space in the U.S., Canada and Mexico for a growing roster of national and international clients. IDI also manages a portfolio of just over 56 million square feet. IDI’s investment portfolio, backed by domestic and international investors in the public and private sector, has total assets in excess of 25 million square feet. Assets are owned through a combination of development partnerships, long-term hold joint ventures and investment funds. For more information on IDI, visit www.idi.com.