351 Logistics Avenue
CLIENT: Congo Brands
LOCATION: 351 Logistics Avenue, Jeffersonville, IN
REAL ESTATE TYPE: Industrial Lease
SQUARE FOOTAGE: 169,000 SF
Project Overview
Congo Brands is a locally headquartered company in the health and wellness industry. Congo has experienced exponential growth over the last four years and has continued to expand their distribution and warehousing footprint in the Louisville market.
For the past 4 years Congo Brands has employed Cushman & Wakefield | Commercial Kentucky to assist negotiations as they locate and secure warehousing space. This particular project consisted of a requirement for approximately 150,000 SF, with a target date of Q3 2023.
The Challenge
- Identify buildings that are either existing or under construction that suit clients timing, size requirement, and amenities
- Report market comps and knowledge to educate client of current market conditions
- Provide detailed breakdown of each available building to determine viability
- Obtain free rent or delayed lease commencement to avoid double rent dilemma with current leases in place
The Solution
Identified nine options in the Louisville and Southern Indiana market and coordinated multiple site visits to inspect each location and determine the correct fit for the Tenant’s use.
Analyzed each property based on size, cost, building amenities, and location. Narrowed the buildings of interest to three and drafted RFP’s to review Landlord lease proposals. Reviewed RFP’s and advised client on best option based on comparative analysis of the proposed lease terms.
Selected 351 Logistics Ave in River Ridge and assisted in Lease negotiations, using market comps and current market knowledge.
Results Achieved
Secured a 5-year lease with delayed lease commencement and two months free rent. Obtained over $900,000 in tenant improvement allowance dollars to go towards air conditioning the warehouse, build custom office space, dock packages, and floor sealing.