10:00 AM
Yell-O-Glow Corp. has signed a new, 61,526-square-foot lease at 21-25 Arlington Street in Chelsea, Mass, according to Newmark Grubb Knight Frank (NGKF). The company will relocate its Avon, Mass., distribution center to the Chelsea facility, with plans to utilize the space as part of its Ethnic Products division.
“Forty or so employees will be working out of the new space,” George Markos, co-owner of Yell-O-Glow, said in a statement. “About 18 of those will be brand new jobs, many of which will filled by Chelsea residents.”
Tom Aitken, NGKF senior managing director, represented Yell-O-Glow, and Greg Regazzini, vice president and director of leasing for Combined Properties, represented the landlord in-house. The industrial building has been owned by Combined Properties since 1986, at which time the property underwent complete renovation.
Mr. Aitken stated, “After an extensive search of available options, 21-25 Arlington Street in Chelsea was selected for its ideal location in close proximity to Yell-O-Glow’s current facility in nearby Everett.”
A fourth-generation family-run business, Yell-O-Glow is a full-line food wholesaler specializing in Latin American and international products, including bakery, beverage, dairy, frozen, grocery, meat, deli, produce and seafood. Yell-O-Glow distributes directly to customers throughout New England, including wholesale distributors, supermarkets, grocery stores and bodegas. It is one of the largest independent banana and plantain processors in the U.S. and currently employs approximately 100 people at three facilities in Everett and Avon, Mass., and Providence, R.I.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 11,000 professionals, operating from more than 340 offices in established and emerging property markets on five continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, NGKF serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.