Full Trucking Company Leases New Warehouse/Distribution Space

Cushman & Wakefield has arranged a 157,000-square-foot industrial lease for North State Express, a full trucking company that includes logistics, transport and storage, at Regional Commerce Center, located at 708 Ellis Road in Durham, North Carolina. Hunter Willard, Larry Lakins, and Andrew Young of Cushman & Wakefield represented the tenant in the lease negotiations, and Jim Allaire with Foundry Commercial represented the owner, Scannell Properties.

“Regional Commerce Center isstrategically located just north of the Research Triangle Park, and offers prime access to major highways, which is perfect for North State Express and the clients they serve,” Willard said. “Additionally, with the 32-foot clear heightsand ample space for trailer parking, the building offers everything they need to be poised for future growth.”

North State Express is currently at 2910 Weck Drive in Durham and is taking the additional new space at Regional Commerce Center, which is currently under construction. Completion of the new building is slated for May. Scannell Properties is developing 1.2 million square feet of modern distribution and light industrial buildings on the 65-acre site.

In the fourth quarter of 2019, persistent demand continued to apply downward pressure on vacancy levels as they further declined to 3.9%, 120 basis points below the previous quarter, according to Cushman & Wakefield Research. As a result, market conditions have favored landlords considerably, but new developments such as Regional Commerce Center and Greenfield Parkway should provide much needed relief for tenants.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.comor follow @CushWake on Twitter.