The signing was arranged for the owner of the property, S/K Avenel Associates LLC, a local group, by CB Richard Ellis. The brokers involved in the transaction, all from CBRE's Woodbridge, NJ office, were first vice president Mindy Lissner, vice presidents Joseph Nitti and Lou Belfer, and associate Scott Belfer. Terms of the lease were not disclosed.

"We are pleased that all of FedEx Ground Packaging Systems' requirements were met with this transaction," Lissner says. "S/K Avenel Associates was able to offer them the space they needed at an ideal location."

That location includes proximity to Routes 1 and 9, the New Jersey Turnpike and the Garden State Parkway, according to Lissner. The building itself features multiple loading docks for FedEx's delivery operations, as well as 18-foot clear ceiling height and newly renovated office space.

In the wake of CB Richard Ellis' acquisition of Insignia/ESG earlier this year, the CBRE office in Woodbridge, NJ will shortly be relocated to Tower Center in nearby East Brunswick, NJ, formerly I/ESG's Central New Jersey office. The firm's other New Jersey offices are in Paramus (CBRE's New Jersey headquarters prior to the merger), and in Saddle Brook (I/ESG's pre-merger home base in the Garden State).