Shipping out: Amazon contractor moving distribution center to Ridgewood

LaserShip to lease entire 41K sf warehouse

New York /
Sep.September 01, 2015 01:15 PM

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.


Related Articles

arrow_forward_ios
Amazon's Andy Jassy with Amazon Fresh store front (Illustration by The Real Deal with Getty, Google maps)
Amazon scraps plans for big-box store
Amazon scraps plans for big-box store
Montgomery Street Partners’ Luke Pak with 353 West 57th Street (Montgomery Street Partners, Google Maps, Getty)
Washington Heights apartments sell for $16M, leading quiet week for i-sales
Washington Heights apartments sell for $16M, leading quiet week for i-sales
Amazon's Andy Jassy with Amazon Fresh store front (Illustration by The Real Deal with Getty, Google maps)
Amazon Fresh stores have gone stale
Amazon Fresh stores have gone stale
Zara's Amancio Ortega (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, Amazon.com, Inc./Public domain/via Wikimedia Commons)
Zara founder, Amazon spend big on Seattle housing
Zara founder, Amazon spend big on Seattle housing
From left: Amazon’s Andy Jassy and Innovo’s Andrew Chung along with a rendering of 2505 Bruckner Boulevard (Getty, Amazon, Innovo)
Amazon takes 568K sf at Innovo, Square Mile’s Bronx industrial complex
Amazon takes 568K sf at Innovo, Square Mile’s Bronx industrial complex
Prologis CEO Hamid Moghadam and CFO Timothy Arndt (Prologis, Getty)
Prologis CEO denies Amazon, FedEx industrial pullback
Prologis CEO denies Amazon, FedEx industrial pullback
Prologis CEO Hamid Moghadam and Amazon CEO Andy Jassy (Getty, Prologis)
Warehouses are losing their heat
Warehouses are losing their heat
Falcon Properties' Florencia Masri and 1030 Sixth Avenue (Falcon Properties, Google Maps, Getty)
Owner seeks $75M for dev site near Amazon’s Midtown office
Owner seeks $75M for dev site near Amazon’s Midtown office
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...