Regal Service is a company that has been in business for almost 50 years and they have built a reputation on outstanding service. They are exactly the kind of tenant we want at Jackson Industrial Building.
Jamestown, NY (PRWEB) May 17, 2011
Hackman Capital announced today that Regal Service, a 100% employee-owned transportation company, leased an additional 37,246 square feet to expand their existing space—now 117,886 square feet—at The Jackson Industrial Building in Jamestown, New York. Regal Service is a 45-year-old entity serving multinational manufacturing companies, as well as the food industry. The company has facilities in western Pennsylvania, New York and Maryland.
The Jackson Industrial Building, one of the area's few large-scale, multi-tenant industrial facilities, offers Regal, strategic proximity to Cummins Jamestown Engine Plant, one of its major customers.
"The facility was a great fit for us because Cummins Engine is so close by," said Kevin Mazon, Regal Service CEO. "Our asset-based transportation company supports Cummins Jamestown Engine Plant with truckload, less-than-truckload, warehousing and international ocean transportation."
Cummins Jamestown Engine Plant, a top job provider in the area, manufactures heavy-duty engines and machine components. The plant produces an average of 400 engines every day. Located in Chautauqua County, it is a local leader in community improvement and outreach.
But close proximity to the Cummins Jamestown Engine Plant was not the only perk that drew Regal Service to The Jackson Industrial Building. Mazon also said he was impressed with the floor space and high ceilings (up to 35'7") at the facility. In addition, the building boasts wide bays, extensive loading and a plethora of parking.
William Daley, CEO of the County of Chautauqua Industrial Development Agency, helped to welcome Regal Service to The Jackson Industrial Building last month. Daley says the location of the building is one of its biggest assets.
“The facility is in close proximity to major transportation corridors,” Daley said. “It's a stone's throw from Interstate 86 and just a few miles from Interstate 90. You can easily get to Re...it's just a great location.”
Daley's agency offers incentive packages to businesses, including tax, lease and PILOT (payment in lieu of taxes) incentives.
“If someone wants to develop here, we can abate property taxes and abate sales taxes on construction materials. If they have to record a mortgage, we do away with the mortgage recording tax,” Daley said.
If outstanding transportation possibilities and great incentives are not enough of a draw to The Jackson Industrial Building, the fishing just might be.
“We have 42 miles of the lake Eerie shoreline as part of Chautauqua Lake, and Jackson Industrial is located right there,” Daley said. “Chautauqua lake is one of the number one fishing lakes in the northeast.”
Michael Hackman, founder and chief executive officer of Hackman Capital, says the new commitment by Regal Service is a plus for the facility.
“Regal Service is a company that has been in business for almost 50 years and they have built a reputation on outstanding service,” Hackman said. “They are exactly the kind of tenant we want at Jackson Industrial Building.
The Jackson Industrial Building is owned by a joint venture among entities formed by Hackman Capital, Calare Properties, Inc. and KBS Real Estate Investment Trust I (KBS REIT I). Hackman Capital manages the property. David Seider and Richard Schechter, from Pyramid Brokerage Company, are the leasing agents.
More information about The Jackson Industrial Building is available at http://www.hackmancapital.com/property-detail/84/133-jackson-avenue.
For additional information or interviews related to this release, contact:
Eleanor Moriarty, Hackman Capital
About Hackman Capital
Hackman Capital is a private real estate investment firm specializing in the acquisition,
management, redevelopment and adaptive reuse of industrial and commercial real estate. Founded in 1987, the company pursues value-added investment opportunities nationwide, and
currently owns and manages more than 16 million square feet of real estate across the United States. Hackman Capital Partners is headquartered in Los Angeles. For more information, visit, http://www.hackmancapital.com.
About Calare Properties, Inc.
Calare Properties is a Massachusetts-based real estate investment manager that currently
owns and manages more than 14 million square feet of distribution, manufacturing and office
properties throughout the United States. Calare has made over $630 million in value-focused real estate investments through several private equity partnerships. For more information, visit http://www.calare.com.
About KBS REIT
KBS REIT was formed by Peter Bren, President, Charles Schreiber, Chief Executive Officer and Chairman, Peter McMillan, Executive Vice President and Treasurer and Keith Hall, Executive Vice President. For more information, visit http://www.kbsreit.com.
About KBS Companies
Headquartered in Newport Beach, Calif., KBS Capital Markets Group (http://www.kbs-cmg.com) is the dealer manager for KBS REIT I and KBS REIT II. KBS Capital Advisors is the advisor for KBS REIT I and KBS REIT II. Both companies are affiliates of KBS Realty Advisors, a private equity real estate company and SEC-registered investment advisor founded in 1992 by Peter Bren and Chuck Schreiber. Since 1992, KBS has completed transactional activity exceeding $16 billion via 19 separate accounts, six commingled funds and two private equity REITs. KBS has offices in Newport Beach, San Francisco, Chicago, Boston, Dallas, New York, Washington, DC, Atlanta and Los Angeles. For more information, visit http://www.kbsrealty.com.