Port Chester Last Mile Delivery Firm To Relocate to Larger Space in CT
Real Estate In-Depth | February 18, 2021
ELMSFORD—As part of an announcement on its leasing activity at its commercial properties in Westchester and Fairfield (CT) counties, Robert Martin Co. announced that Lasership, a last mile delivery firm currently based in Port Chester, will be shifting operations across the border to Stamford, CT.
Lasership has leased 40,000 square feet of flex/industrial space at 650 West Ave. in Robert Martin’s Stamford Executive Park. The fast-growing company is moving from a facility it outgrew in Port Chester. Lasership is a last-mile ground delivery network consisting of more than 60 distribution centers and four sort centers across 23 states that reach more than 140 million consumers in the U.S. The company is a leading provider of same day and next-day delivery services in the Eastern and Midwest U.S. for e-commerce and product supply businesses.
Robert Martin reported that it secured a flurry of new leases and renewals in January and early February totaling nearly 120,000 square feet at its properties in Westchester County and Stamford.
Other recent leases at Robert Martin properties include 23,000 square feet of renewals by Acorn Engineering Company at 6 and 7 Westchester Plaza at Cross Westchester Executive Park in Elmsford and a 13,700-square-foot renewal by USCO Inc. at 300 Executive Boulevard in Cross Westchester Executive Park. The recent surge in leasing activity builds on the momentum of a strong fourth quarter in which Robert Martin reported 170,350 square feet of new leases and renewals at its office parks in Elmsford, Hawthorne and Yonkers, company officials stated.
“As one of the largest property owners in Westchester County and a leader in the regional flex/industrial sector, we see a multitude of trendlines intersecting that are impacting the local real estate industry – some good, some bad and others just plain awful,” said Robert Martin CEO Tim Jones. “Like our tenants, we are confronting numerous short- and long-term consequences from the current pandemic, which means we are strategically pivoting to capture more of the upside from emerging trends, such as a dramatic increase in last-mile e-commerce distribution and film/video production, while simultaneously managing the downside, which is a tough combination of tenant financial hardship mixed in with making additional capital investments to reposition some properties.”
Robert Martin and its affiliates have developed and acquired more than 20 million square feet of real estate across virtually every asset class. The company and its partners currently maintain a portfolio that includes millions of square feet of office, retail, industrial and residential properties, as well as developable land.