Chetrit’s Queens industrial loft signs warehouse startup for 90K sf

ReadySpaces setting up shop in Ridgewood for NYC debut

New York /
Nov.November 24, 2021 02:45 PM

Jon Zimmerman (CEO, ReadySpace), Kevin Petrovic (COO, ReadySpace), David Junik (Pinnacle Reality) & render of 59-10 Decatur Street in Ridgewood (Pinnacle Reality, readyspaces.com, iStock, Illustration by Kevin Cifuentes for The Real Deal)

Flex-warehouse startup ReadySpaces has inked a 90,000-square-foot lease at Isaac Chetrit’s industrial loft building in Ridgewood, Queens.

Led by co-founders John Zimmerman and Kevin Petrovic, the company has been growing its footprint with long-term leases on or purchasing large Class B and C warehouses.

ReadySpaces has more than 20 locations in North America, spanning more than 2 million square feet. But the recent lease at 59-10 Decatur Street marks its first in New York City.

Just like WeWork in offices, ReadySpaces partitions its warehouses and industrial buildings into smaller units — ranging from 250 to 5,000 square feet — for its clients to use them on more flexible terms than traditional leases.

The Ridgewood property sits about a 10-minute walk from stations for the M and L subway lines. The building’s access to public transit sets it apart from other Maspeth industrial areas, Petrovic said.

Colliers brokers Richard Warshauer and Mike Davis represented ReadySpaces.

ReadySpaces expects clients to use the facility for last-mile delivery services, small e-commerce or wholesale operations, and light assembly or prototyping.

The eight-year-old company has grown since the onset of the pandemic as more retailers sought warehouses to accommodate their e-commerce needs. The so-called great resignation trend has also fueled the company’s growth because more individuals opted to become small business owners, Zimmerman and Petrovic previously told The Real Deal.

The Chetrit-led Ab & Sons Group has been the owner of the 200,000-square-foot five-story loft building for more than two decades, according to public records. The property is equipped with 11 interior loading docks and three freight elevators, according to a marketing material reviewed by The Real Deal. Ab & Sons declined to comment.

David Junik and Steve Nadel with Pinnacle Realty represented the landlord for the transaction. The brokers declined a request for comment.





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