Japanese Retailer Signs Major Industrial Lease in Phillipsburg
UNIQLO, a Japanese clothing designer and manufacturer, has signed a lease at Bridge Point 78 and will be one of the largest tenants in its six-warehouse, 3.85 million-square-foot complex.
PHILLIPSBURG, NJ—Japanese retailer UNIQLO has signed a major industrial lease deal at Bridge Development Partners’ Bridge Point 78 development here.
While Bridge Development did not divulge the exact size of the lease transaction at the former Ingersoll Rand site, in Lopatcong Township and Phillipsburg, the Chicago-based firm states that UNIQLO, a Japanese clothing designer and manufacturer, has signed a lease at Bridge Point 78 and will be one of the largest tenants in its six-warehouse, 3.85 million-square-foot complex. It also describes the deal as largest lease to date nationally across Bridge Development Partners’ five-market portfolio.
UNIQLO’s new warehouse will occupy significant space in the park’s second largest building, the largest in the initial phase of the project that multiple reports state totals approximately 975,761 square feet. The Class-A, state-of-the-art warehouse building will feature 40-foot clear ceiling heights and ample trailer and truck parking, and will enable cross-docking. The property has access to to I-78 and Route 22, as well as direct, toll-free access to the Port of Newark.
CBRE’s Northern New Jersey and Lehigh Valley teams represented Bridge in the lease transaction, while Adam Citron of JLL represented UNIQLO.
Construction on Phase II of Bridge Point 78 will begin in the summer of 2020 and will encompass 1.65 million square feet across two buildings.
Jeff Milanaik, partner, Northeast Region at Bridge Development Partners, states that Uniqlo’s decision to establish a major warehouse at the Bridge Point 78 development is a “significant validation” of the firm’s vision for the project and reflects the advantages the property’s location and quality affords.
Earlier this month, Bridge Development Partners, LLC broken ground on Phase III of its Bridge Point North project in Waukegan, IL. Phase III will consist of four new buildings, totaling 918,972 square feet, and will be the final addition to the 225-acre, master-planned Bridge Point North campus that Bridge has been actively developing since 2015.