Transwestern | RBJ Represents Wayfair Inc. In 898,560 SF Lease Commitment
New Distribution Facility in Erlanger, Kentucky, Supports Online Retailer's Rapid Growth
BOSTON, Oct. 15, 2015 /PRNewswire/ -- Transwestern | RBJ today announces it represented Wayfair Inc. (NYSE: W) in an 898,560-square-foot lease commitment at LogistiCenter at 275, a planned facility at 1600 Donaldson Road in Erlanger, Kentucky.
Transwestern | RBJ's Jon Varholak and John Lashar, along with Jeff Bender of Cushman & Wakefield, negotiated the deal for Wayfair, a distributor of home furnishings and decor. The speculative building will expand the online retailer's U.S. distribution capacity.
"We have represented Wayfair since the company's founding in 2002, so it's particularly exciting for us to facilitate this significant growth milestone," said Varholak. "LogistiCenter proved to the best option for Wayfair, as the company already has a strong presence in Hebron, Kentucky, and can further benefit from the state's robust labor force and business climate."
Scheduled to open in mid-2016, LogistiCenter at 275 is being developed by a joint venture of Dermody Properties and Hillwood Investment Properties. The building is situated on a 52-acre site, adjacent to the Cincinnati/Northern Kentucky International Airport.
"Wayfair's scalable distribution platform is part of our broader operations strategy to reduce the customer fulfillment cycle time while supporting the company's continued growth," said Nicholas Malone, chief administrative officer at Wayfair. "Transwestern │ RBJ understands our business objectives and has provided invaluable insight in aligning our real estate strategy with those goals."
Transwestern | RBJ previously advised Wayfair on its corporate headquarters lease in Boston and distribution facility transactions in Kentucky and Utah.
ABOUT WAYFAIR INC.
Wayfair Inc. offers an extensive selection of home furnishings and décor across all styles and price points. The Wayfair family of brands includes:
- Wayfair.com, an online destination for all things home
- Joss & Main, an online flash sales site offering inspiring home design daily
- AllModern, a go-to online source for modern design
- DwellStudio, a design house for fashion-forward modern furnishings
- Birch Lane, a collection of classic furnishings and timeless home décor
Wayfair is headquartered in Boston, Massachusetts, with additional locations in New York, Utah, Kentucky, Ireland, U.K. and Germany.
ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Boston office, follow @TranswesternBOS.
Media Contact:
Dan Foley
508.272.0017
[email protected]
SOURCE Transwestern | RBJ
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