R&J Expands to Rutgers Industrial Center Site in Piscataway, NJ
Rutgers Industrial Centers’ prime location and superior highway access drove R&J Warehouse’s interest in the 140 Circle Drive North lease opportunity, says Levin Management's Robert Carson.
PISCATAWAY, NJ—Demand for industrial space is keeping vacancies at lease ends short or nonexistent in the northern and central New Jersey markets. Shoe wholesaler R&J Warehouse has signed a 103,350-square-foot, full-building lease at Rutgers Industrial Center in Piscataway to replace a current tenant immediately after that lease expires.
R&J Warehouse’s new space in 140 Circle Drive North represents an expansion of the New York-based company’s operations, according to Robert Carson, Levin Management Corporation’s executive vice president. Levin is the asset manager for the five-building, 535,000-square-foot industrial/warehouse complex.
“The company will assume tenancy of the single-story building in late summer – immediately after the current tenant’s lease expires,” Carson says. “The fact that the building will experience no period of vacancy reflects current market fundamentals. The industrial/warehouse sector is performing extremely well, and this lease clearly demonstrates sustained demand for quality space in Northern and Central New Jersey.”
Rutgers Industrial Centers’ prime location and superior highway access drove R&J Warehouse’s interest in the 140 Circle Drive North lease opportunity, Carson says.
The property is in the heart of Middlesex County, easily accessible to I-287 and just five miles from Exit 10 of the New Jersey Turnpike. Commuter rail service, Newark Liberty International Airport, New York City and New Jersey seaports are all nearby.
The R&J Warehouse transaction is the third new lease signing at Rutgers Industrial Center in the last 18 months, LMC says. Chuck Fern of Cushman & Wakefield served as landlord broker in negotiating the transaction.