Airborne Express takes new sites.
In a $2.4 million transaction in Greater Louisville, Airborne Express plans by the end of March to move into 25,010 square feet of industrial space under construction along Preston Highway across from the Kentucky State Fairgrounds. The build-to-suit construction and 15-year lease on the site were arranged by Jack Miller, senior sales associate with the Walter Wagner Jr., Co., the New America Network member in Louisville. In Woodside, Queens, Airborne Express in early January took occupancy of 57,000 square feet at the Alomatic Building, 3030 60th Street, after a 10-year-lease, with a gross value of $2 million, was arranged jointly by Larry Bianco of Schacker Real Estate Corp., the New America Network member in Melville, New York, and Phil Rizzuto of New America's member in New York City, Newmark & Co. Real Estate Inc.
In Louisville, Airborne will be relocating from a smaller facility about 10 miles from the new site. In Queens, it has relocated from a smaller facility in Long Island City, New York. The space in Louisville is being built specifically to fit Airborne's needs by Jefferson Development Group, owner of the site. In Queens, the 100,000-square-foot Alomatic Building, is owned by Alomatic Industries in New York City.
The transactions are the latest in a long list of site search and lease negotiations that New America Network has arranged for Airborne Express in locations throughout North America. Airborne Express has grown from just 50 locations in the middle 1980s to its current total of over 200. New America Vice President David Blanchard, based near Portland, Oregon, manages the real estate company's account with Airborne.
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|Publication:||Real Estate Weekly|
|Article Type:||Brief Article|
|Date:||Feb 19, 1992|
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