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TriMark Expands And Extends Lease For 120,000 SF Industrial Space At 325 Valley Drive In Brisbane

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LEASED
$23

Pennsylvania

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Industrial120 SF
Leased 04/25/2023
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LEASED

TriMark Expands And Extends Lease For 120,000 SF Industrial Space At 325 Valley Drive In Brisbane

325 Valley Drive

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Industrial120 SF
Leased 04/25/2023
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Summary

PENNSYLVANIA
Asset Type:Industrial
Price Per Square Foot:$23
Total Square Footage:120 SF
Transaction Type:Lease

A lease agreement has been signed for an industrial property located at 325 Valley Drive in Brisbane. The property, spanning 120,000 square feet, will be occupied solely by TriMark, the largest food service equipment dealer in the US. The lease, facilitated by listing agent Joe Harney of Reliance Real Estate Advisors, will commence in the spring of next year.

Summary of Transaction Details

  • Property Type: Industrial
  • Transaction Date: 04/25/2023
  • Address: 325 Valley Drive, Brisbane
  • Market: Brisbane

TriMark, known for its extensive range of food service equipment, has secured a lease for seven years, expanding and extending its current industrial footprint in Brisbane. With this new lease, TriMark will occupy a warehouse with 15 truck docks, approximately 80 parking spaces, and outdoor storage on a 5-acre lot. The lease agreement solidifies TriMark's position in the market and highlights its commitment to serving its customers in the area.

The landlord for the property is Valley 325 LP, while TriMark was represented by Jason Cranston from JLL. Joe Harney, from Reliance Real Estate Advisors, acted as the landlord's representative in the negotiation.

Players

Jason Cranston
2 deals
BROKER

Joe Harney
Reliance Real Estate Advisors
3 deals$11.4M volume(415) 235-8214
BROKER

Details

LEASED
IMAGE: Jason Cranston DATE: 04/25/2023 ADDRESS: 325 Valley Drive MARKET: Brisbane ASSET TYPE: Industrial LANDLORD: Valley 325 LP TENANT: TriMark LANDLORD'S REP: Joe Harney - Reliance Real Estate Advisors TENANT'S REP: Jason Cranston - JLL (@JLL) ASKING RENT: $23/ft. ~ SF: 120,000 LEASE TERMS: seven years NOTE: TriMark, the largest food service equipment dealer in the US, has signed a lease for seven years, expanding and extending its current 90,000-square-foot industrial footprint in Brisbane. The lease will make TriMark the sole occupant of a 120,000-square-foot warehouse with 15 truck docks, nearly 80 parking spaces, and outdoor storage on almost a 5-acre lot from next spring, according to listing agent Joe Harney of Reliance Real Estate Advisors.

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Deal Type
Effective Rent (Annual)

$3,164.03

Total Lease Value

$31,640.31

Net Landlord Cash Flow$3,164.03