JDK Real Estate Signs Lease Agreement With Bluecross
JDK Real Estate, a member of the Kenco Family of Companies, has signed a lease with BlueCross BlueShield of Tennessee (BCBST) for 81,000 square feet of improved warehouse space in Chattanooga. BlueCross will consolidate its two currently leased warehouse locations into a single JDK Real Estate property that provides cost savings, better functionality and improved capabilities. The 10-year deal represents a 51% decrease in BlueCross’ total projected warehouse leasing expense.
“This is part of our long-term goal to consolidate our facilities,” said Dan Jacobson, vice president of properties and corporate services at BlueCross. “Moving to this new space will help BlueCross achieve greater efficiencies for our warehousing operations.”
During the past year over 35 possible locations were evaluated in the Chattanooga area. BlueCross’ new 10-year lease with JDK Real Estate will consolidate and reduce the 125,000 square feet held under current lease agreements. The facility can accommodate racking five levels high and will be National Archives and Records Administration compliant.
“We are pleased to continue our relationship with BlueCross,” said Wilson McGinness, leasing director, JDK Real Estate. “The new lease doubles the amount of JDK space BlueCross uses for logistics and warehouse management.”
BlueCross BlueShield of Tennessee, Inc. is an independent licensee of the BlueCross BlueShield Association.
About BlueCross BlueShield of Tennessee
BlueCross BlueShield of Tennessee offers its clients peace of mind through affordable solutions for health and healing, life and living. Founded in 1945, the Chattanooga-based company is focused on reinventing the health plan for its 3 million members. Through its personal health advocacy approach, BlueCross is developing patient-centric products and services that positively impact affordability, patient safety and quality. BlueCross BlueShield of Tennessee, Inc. is an independent licensee of the BlueCross BlueShield Association. For more information, visit the company’s website at www.bcbst.com.
About JDK Real Estate
JDK Real Estate, specializes in leasing, site selection analysis and tenant improvement consulting. The company owns approximately five million square feet of warehouse space in the United States. JDK services include contract negotiations, site optimization and selection, facility management, warehouse design, retrofitting for specialty needs, construction management, lease administration and aggressive space management.
About The Kenco Family of Companies (www.kencogroup.com)
Kenco’s core competencies include not only logistic services but also transportation, real estate management and material handling equipment. The Kenco Family of Companies includes Kenco Logistic Services, Kenco Transportation, Kenco Toyota-Lift, Kenco Management Services, and JDK Real Estate.