Richards Barry Joyce & Partners, LLC (RBJ&P) represented the landlord in a 234,664 s/f lease renewal and expansion with Owens & Minor at 20 Freedom Way.
The lease includes an expansion of 87,000 s/f and makes Owens & Minor the sole occupant of the fully occupied, single-story warehouse. Owens &Minor, a leading national distributor of name-brand medical and surgical supplies and a Fortune 500 company, has shown steady growth in the location, expanding from its original presence of less than 50,000 s/f.
"The success of Owens & Minor can be seen in its exceptional growth at 20 Freedom Way, expanding its original footprint by almost five times," said John Lashar, partner, RBJ&P. "The growth into the entire facility speaks to the high quality nature of the physical attributes of the building and the exceptional location."
20 Freedom Way is a high bay warehouse/distribution building. Built in 2003, the building features 36' high ceilings and ESFR sprinkler systems. Located in the Franklin Industrial Park, 20 Freedom Way is only minutes from I-495. Area amenities include numerous restaurants, daycare, retail and several hotels.
Lashar and senior vice president Paul Leone represented the landlord in the transaction. RBJ&P is the exclusive leasing agent for 20 Freedom Way. Owens & Minor was represented by Jackson & Cooksey.
According to research by RBJ&P, the Rte. 495 South submarket consists of 7.307 million s/f of high-bay warehouse space, which was 12.8% vacant, as of the quarter ended September 30, 2013. (Source: Richards Barry Joyce & Partners' "indSTATus - Fall 2013")
Richards Barry Joyce & Partners is a full service commercial real estate firm providing creative solutions for its client partners. The company's focused team approach offers clients a competitive advantage in solving their local, national, and international real estate challenges. Richards Barry Joyce & Partners' unique platform offers a full range of real estate advisory services including market analysis, capital markets solutions, financial analysis, corporate services, portfolio review, and consulting services.