EDISON, NJ – Bussel Realty Corp.'s Jordan Metz has been busy over the past two months, closing seven long-term lease transactions and one sale in the Turnpike Exit 13A submarket in New Jersey, totaling approximately 145,500 sf.

The seven leases (three renewals and four new) and sale were all signed in “rapid succession” over the past seven weeks, according to BRC, an industrial real estate services firm.

“Class B industrial is 'on fire' in specific locations,” near transportation facilities, says Metz. “Limited inventory across all asset classes has now become the norm — one of the trickle-down results is that it is forcing tenants in Class B facilities to secure their spaces before they are 'all spoken for'. The levels of demand have clearly out-paced any conceivable level of current supply.”

Metz says he's never seen this level of leasing and sales velocity, and adds that there's “an equal appetite for all industrial property classes across every market sector.”

Transactions completed by Metz over the past two months include:

35,000-sf sale to COS Phones, a national telecommunications provider, at 785 Rahway Avenue in Union, New Jersey.
30,000-sf lease renewal by SGF Freight Services Inc., an international freight forwarding service, for five years at 551 New Point Road in Elizabeth, New Jersey.
20,000-sf lease renewal by Ultimate Sea Foods, a frozen seafood distributor that services restaurants and specialty markets and stores in the Northeast, for five years at 2401 East Linden Avenue in Linden, New Jersey.
17,500-sf new lease by Luxor Linens, an online and e-commerce luxury business of linen products for five years at 1416 East Linden Avenue, Unit C, in Linden, New Jersey.
16,500-sf lease renewal by Time & Again Antiques, an antique wholesaler and auction house, for five years at 1416 East Linden Avenue, Unit D, in Linden, New Jersey.
14,000-sf new lease by Elegant Furniture, a distributor of fine furniture products, for five years at 2500 Brunswick Avenue in Linden, New Jersey.
10,000-sf new lease by Benjamin's Bakery for five years at 1057 Pennsylvania Avenue/One West Baltimore in Linden, New Jersey.
2,500-sf new lease by Bags USA, one of the largest airline luggage services in the country, for three years at 1230 E. Elizabeth Avenue in Linden, New Jersey.

With one of the largest dedicated industrial brokerage staffs in New Jersey, Bussel Realty Corp. (BRC) is a leading Central New Jersey industrial real estate services firm providing leasing and sales brokerage services to users, corporate occupiers, landlords, owners and investors, representing millions of square feet of property and tenant client assignments annually. The firm's clients have included several of the largest Fortune 500 Companies, as well as numerous manufacturing, distribution and services companies both nationally and locally. Currently, BRC is handling more than 3M SF of corporate and industrial real estate in New Jersey.

Instant Insights /

Metz of Bussel Realty Closes Seven Class B Industrial Transactions in Exit 13A Submarket

Related Stories

Recommended For You