Crate and Barrel, a national retailer selling furniture, housewares and decor, recently leased 30,000-square-feet of warehouse space in the Bradenton area.
The $1.45 million, five-year lease is one of the first signed at the new 301 Corporate Center at 5807 24th St. E.
Chris Malkin, managing director of SVN Commercial Partners, represented Crate and Barrel, and Scott Altiere represented the property owner, Peak Development.
The 301 Corporate Center includes two 208,000-square foot buildings on 16 acres, just west of U.S. 301.
A sign on the property announces pre-leasing of Class A industrial suites from 20,000 to 208,000-square feet.
Malkin worked with Newmark, a Boston company offering tenant and landlord representation, on the lease agreement.
Crate and Barrel has five store locations in Florida, including one in the Bradenton-Sarasota area at 140 University Town Center. The University Town Center store opened in 2014. The company also has two existing warehouse locations, one in Tampa and the other in Miami.
“They are bursting at the seams because of the growth here,” Malkin said of Crate and Barrel. “They were blessed to get the space in the 301 Corporate Center. There was a lot of competition.”
The Bradenton-Sarasota area has experienced an influx of new residents during the pandemic, and it is also seeing more national companies moving here, Malkin said.
“They are all seeing people flock to our coast,” he said, adding that the area continues to be under-served with Class A industrial space.
That deficit has been highlighted during the pandemic.
A year ago, Stan Rutstein of the Re/Max Alliance Group, Susan Goldstein of Michael Saunders & Co. and Janet Robinson of Coldwell Banker Commercial NRT all told the Bradenton Herald that the most in-demand type of commercial real estate is industrial or warehouse space.
“Anything from 10,000 to 100,000 square feet is getting very hard to find,” Robinson said previously.
Among the most successful new industrial real estate developments are Harrod Properties’ Gatewood Corporate Center at Lakewood Ranch and Benderson Development’s Florida International Trade Port at Interstate 75 and U.S. 301 in Ellenton.
“Distribution centers and warehousing are powerful,” Rutstein said in 2021.
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