North Signal Capital Announces 164,500 SF Lease to Jonathan Y within RiverPort Commerce Park. RiverPort 3 Now 50% Leased.
North Signal Capital has secured a 164,500 SF, 5-year lease with Jonathan Y, a luxury home furnishings company, located at RiverPort Commerce Park in Hardeeville, SC. The lease aims to enhance Jonathan Y's operational efficiency with lower occupancy costs and is expected to generate over 40 jobs by September. Construction of customized premises is underway, and the project signifies economic growth for the Savannah market. The site selection was praised for its location, economic incentives, and low property taxes.
- Execution of a 164,500 SF lease with Jonathan Y, enhancing business operations.
- Expected to create over 40 jobs in the Savannah area.
- Lower occupancy costs and operating expenses for Jonathan Y.
- None.
HARDEEVILLE, S.C., June 30, 2021 /PRNewswire/ -- Today, North Signal Capital, is pleased to announce the execution of a 164,500 SF, 5-year lease with Jonathan Y within RiverPort Commerce Park. Jonathan Y is a growing luxury home furnishings and lighting company based in New York City.
Following the execution of the lease earlier this month, North Signal is working with Jonathan Y to construct their customized premises within RiverPort 3 (362 Exchange Place Hardeeville, SC). The upfit work is expected to be complete in September.
"Following a thorough site selection process, we are excited to build our relationship with both North Signal and the Georgia Ports Authority. These premises create real economic value for us: lower direct occupancy costs, lower operating expenses, more productivity," said Jonathan Yaraghi, President, Jonathan Y.
"We are thrilled to support both Jonathan Y's expansion into the Southeast as well as the ongoing economic development of the greater Savannah market. Jonathan Y is likely to create more than 40 jobs at this location as soon as September. We look forward to a growing partnership with the Jonathan Y team," said Peter Goulding, Partner, North Signal Capital.
Jonathan Y was represented by Bill Sparks of CBRE-Savannah. "In today's tight Savannah industrial market, RiverPort really stood out not only for their well-located, high-quality building but also for their responsiveness to tenant needs, compelling economic incentives and low property taxes," said Bill Sparks, Senior Vice President, CBRE Savannah.
North Signal was represented by William Lattimore at CBRE Savannah. William represents North Signal on the remaining approximately 4.2 million square feet within RiverPort Commerce Park. This includes the remaining 164,500 SF in RiverPort 3 as well as RiverPort 2 (608,000 SF delivering December 2021) and RiverPort 4 (206,000 SF delivering January 2022). For more information regarding RiverPort Commerce Park, please visit www.riverportcommerce.com.
About Jonathan Y
The JONATHAN Y collection offers affordable, on-trend home decor with high-end designer styling. Shoppers can find JONATHAN Y lighting, area rugs and accent furniture on the company's website and at top retail chains and ecommerce sites. Every product is shipped in eco-friendly packaging, stocked in the U.S. for fast, easy delivery - powered by an AI-based distribution system. JONATHAN Y is a brand that is built for e-commerce, creating a style revolution in today's homes. For more information regarding Jonathan Y, please visit www.jonathany.com
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About North Signal Capital
North Signal Capital LLC is a real estate investment and development firm with offices in Stamford, CT and Charleston, SC. North Signal seeks to maximize risk-adjusted returns by employing a value-based approach to real estate investing. North Signal targets investments supported by long term secular trends. For more information regarding North Signal Capital LLC, please visit www.northsignal.com.
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SOURCE North Signal Capital LLC
FAQ
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