The re-signing was handled as a collaboration between JRT Realty Group Inc., a New York City-based firm, in a strategic alliance with Cushman & Wakefield of NJ. JRT founder and president Jodi Pulice, and EVP Greg Smith, along with C&W's Frank Caccavo, Jason Goldman and Andrew Siemsen repped the ownership, a fund managed by TIAA-CREF. JRT and C&W is the exclusive leasing agent for the property.
"Monroe is recognized as a premier W/D hub," Pulice says. "Retail giants with large distribution and office centers, like Staples, value the market's proximity to major consumer markets."
Goldman says that "Middlesex County remains at the center of demand for industrial space, accounting for more than two-thirds of the state's total activity last year. This historically strong submarket remains one of the most desirable in New Jersey."
Steven Bither, asset manager for TIAA-CREF Global Real Estate, says that "Staples is an example of the type of long-term tenants we look for, for all of our real estate assets."
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