LaserShip, a Virginia-based package delivery service and major Amazon contractor, inked a 10-year lease to fully occupy a Ridgewood warehouse as its newest distribution center, The Real Deal has learned.
The one-story factory at 16-70 Weirfield Street spans 40,800 square feet. Jack Yedid’s Yedid Brothers Realty has owned the property for more than 25 years, records show.
The landlord was looking a single national company to lease the property, rather than several tenants taking flex office space, sources said. As a result, Yedid opted for lower asking rent.
Asking rent for the space is roughly $17 per square foot, which is about average for distribution centers in the area. Asking rents for flex office space tends to be slightly higher, at $22 to $25 per square foot.
Pinnacle Realty’s David Junik and Mark Caso represented the landlord, while Arthur Spitalnick of the Kaufman Organization represented the tenant. Junik and Caso could not be reached for comment.
Spitalnick said LaserShip launched a “pretty extensive search” as its Long Island City lease was soon expiring. The company plans to leave its 13,000-square-foot space at 3601 47th Avenue in Long Island City in the next month, but retain a distribution center and sales office at 237 West 29th Street in Chelsea.
LaserShip specializes in same-day and next-day deliveries and, in addition to Amazon, its clients include Staples and Office Depot. The company has more than 60 locations, including two in the city.
Last year, Amazon signed a 17-year lease for 470,000 square feet at Vornado Realty Trust’s 7 West 34th Street. The company, which posted revenues north of $1.8 billion last quarter and a market capitalization of $250 billion, has long been criticized for often-brutal working conditions at its warehouses.
A New York Times expose in August also revealed a corporate culture that encouraged 100-hour work weeks and Machiavellian levels of backstabbing. Amazon CEO Jeff Bezos said he was making changes to how Amazon treats its employees.