EDISON, NJ-CB Richard Ellis recently brokered a374,148-square-foot, five-year renewal at 1 Gourmet Ln. here.CBRE’s first vice presidents Scott Belfer and Lou Belferrepresented the tenant, e-retailer Newegg.com, while landlord RonSchram with Morris Cos. repped himself.

“As the market inches toward recovery, we are seeing an influxof potential lessees/buyers who are eager to renew their spaces atthe current market prices,” Belfer tells GlobeSt.com. “Newegg.com,which has been located here for the past three years, completed thenew agreement with one year left on its lease, as it too wanted totake advantage of today's real estate climate. In the end, Neweggwas able to capitalize on the market's rental rates and secure afavorable price over the long-term for the next few years.”

Situated in Edison, the warehouse facility offers 32-footceilings and an early suppression fast response cross-dock systemwith T-5 lighting. Newegg.com is the sole tenant in the buildingand is utilizing the space as its warehouse/distributionheadquarters for the Northeast. “This is the sixth transaction wehave completed on behalf of Newegg and we are currently working onothers throughout the country,” adds Belfer.