J&B Importers, Inc Selects Rotterdam for Northeast Distribution Center Warehouse
Situation
J&B Importers was referred to us from a Broker in Minneapolis who needed the expertise of a firm who knew the Albany Market and could manage the transaction from start to finish. J&B Importers is the largest wholesaler of bicycle parts and accessories in the United States. Based in Miami, the company currently operates distribution facilities in Alabama , Florida , Indiana , Pennsylvania , Minnesota , Texas, Colorado , Washington and California . Still, they needed to open a distribution center in Albany, NY to enhance their delivery time to next-day for all of New York and New England. Albany’s strategic location features three interstate highways, rail service only 2 hours and 15 minutes from New York City, a year round deep water port, and an International airport with direct air service to all major markets. These transport systems provide convenient and efficient access to the markets of the Northeastern United States.
Process
Through our initial consultation with J&B Importers we determined what their space needs were going to be. Then with our market knowledge, extensive databases and experience in warehouse/distribution we were able to assemble a property tour of available properties that met those space needs. After the tour we performed a Lease vs. Lease Analysis and a Demographic and Economic Study from which we generated a qualitative building comparison for J&B. By calculating the total cost to occupy the space throughout the entire term of the lease we were able to identify a site that met all their long and short term needs. By locating them space in a burgeoning Economic Development Zone as well as an New York State Empire Zone they were made aware of and were able to secure a number of economic incentives and tax benefits.
Result
Our detailed analysis determined the best lease agreement for J&B Importers. With the guidance of Larkin, J&B, Inc. made the decision to lease 40,000 SF in the Rotterdam Industrial Park. Once opened, J&B Importers’ 10th U.S. Distribution Facility will create 10-15 new jobs. Local officials praised the transaction by saying, “We continue to attract new companies and new jobs to Schenectady County. This is another positive step forward for our efforts to position Schenectady County as a leading location for growing businesses.”