The Choyce Peterson National Accounts Team accomplished a noteworthy industrial lease transaction in Syracuse, NY, expanding and renewing tenancy at warehouse facilities located at 6010 Tarbell Road. This project involved a seamless facility expansion from 97,560 SF to an impressive 126,750 SF, demonstrating the team’s expertise in complex logistics, negotiation, and phased construction management. The renewal and expansion deliver significant long-term value for the client, locking in favorable terms for decades to come.
Lease Details
- Tenant Broker: Alan Peterson, Choyce Peterson, Inc.
- Asset Class: Warehouse
- Square Footage Leased: 126,750 SF
- Occupancy Status: Fully Leased
Property Summary
- Address: 6010 Tarbell Road, Town of Dewitt, Onondaga County, NY
- Building Type: Warehouse
This facility stands out for its large, contiguous space and its ability to flexibly accommodate both expansion and ongoing operations, making it highly functional for regional and national distribution requirements.
Leasing Strategy and Execution
The leasing strategy focused on supporting ongoing client operations while delivering growth capacity and significantly greater operational efficiency. The team expertly managed a multi-phase project, negotiating the acquisition of an adjacent property and overseeing demolition/relocation/construction of the dock wall to better handle 53’ trailers and construction of a warehouse building that connected two buildings and provided a net increase in the warehouse footprint. This phased approach allowed the client to continue business without interruption. By securing a long-term renewal and advantageous long-term options, the Choyce Peterson team provided the client with stability and substantial cost savings compared to prevailing market rates.
Neighborhood Overview
- Interstate 481 (Onondaga County, NY) – Provides immediate highway access for regional distribution.
- Carrier Circle (East Syracuse, NY 13057) – Key commercial and industrial node with hotel, dining, and service amenities.
- FedEx Ship Center (6541 Basile Rowe, East Syracuse, NY 13057) – National parcel distribution center nearby.
- Bristol-Myers Squibb Facility (6000 Thompson Rd, Syracuse, NY 13221) – Prominent local industrial employer and operations center.
The property benefits from direct access to Interstate 481, offering exceptional connectivity for logistics and distribution throughout the region. Its location within the DeWitt industrial corridor ensures access to a robust transportation network and a skilled labor force.
Conclusion
This successful lease renewal and expansion underscore the capabilities of the Choyce Peterson National Accounts Team in executing complex, value-driven industrial transactions. By delivering a larger, seamlessly connected warehouse solution with long-term, below-market lease terms, the team not only met but exceeded our client’s operational and financial objectives. The transaction cements landlord and tenant alignment for decades and highlights ongoing momentum in the Syracuse industrial market.
Frequently Asked Questions (FAQs)
What are the key features of this industrial space?
The facility offers large, contiguous warehouse space, increased maneuverability in the truck court and separation of automobile and truck parking all of which are better suited for high volume distribution activity.
What type of tenant leased the space?
A national distribution client, requiring long-term occupancy, operational efficiency and great delivery access to the region.
Why was this location attractive to the tenant?
Immediate access to Interstate 481and a central location within the Syracuse distribution corridor.
Were any buildouts or custom improvements part of the deal?
Yes, the project first included acquisition of adjacent land to allow relocation and expansion of employee parking thereby making room for a second phase construction of a warehouse connecting two properties then a third phase of demolishing the existing, old loading dock area, and pushing back the dock wall with an updated loading dock package and a deeper truck court.
How does this lease reflect market trends in the area?
It highlights strong demand for large, flexible warehouse space and the value of securing long-term, below-market lease rates in a tightening industrial market.
