212,340-SF Industrial Renewal Signed in Vermont
13 Dec, 2011, North Springfield, Vt.
JELD-WEN, Inc. has signed a long-term lease renewal for 212,340 square feet of industrial space at 36 Precision Drive in North Springfield, Vt., announced Cushman & Wakefield. A global window and door maker based in Klamath Falls, Ore., JELD-WEN utilizes the site for product manufacturing for the New England region.
In the transaction, the company was represented by Bo Mills, Mark Detmer, Will Strong, and Jackie Orcutt of the Phoenix office of Cushman & Wakefield, and Thomas Farrelly of the firm's Manchester, N.H. office. Landlord WE 36 Precision Drive LLC, an affiliate of Winstanley Enterprises, was represented by Arthur Ross of Hart Corp.
"With its prime location near I-91, this facility is well-suited for JELD-WEN for serving its regional market," said Mills. "Recently renovated, this industrial property works well for the company's window and door business."
Originally constructed in 1968 as a single-tenant precision tool manufacturing facility, 36 Precision Drive was completely renovated in 2006 and converted into a multi-tenant property. The building totals 373,000 square feet, expandable to 600,000 square feet, and occupies 15 acres within a 213-acre industrial tract.
Cushman & Wakefield, Inc.'s industrial brokerage platform provides global resources for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2010, this group completed more than 4,800 industrial real estate transactions nationwide - totaling 141.6 million square feet in leases and 52.9 million square feet in sales - with an aggregate value of nearly $5 billion. This represented a year-over-year revenue increase of 26.7 percent.